It is a safer wallet
> This PIN prevents unauthorized access and payments via Google Wallet.
> google Wallet and MasterCard PayPass™ provide many layers of security.
> Google Wallet stores your encrypted payment card credentials on a computer chip on your phone called the
> The chip is designed to only allow trusted programs on the Secure Element itself to access the payment
credentials stored therein.
What to do if your phone is lost or stolen
> Even though the Google Wallet PIN and Secure Element protect your payment card information, you should still
call your issuing banks to cancel your cards.