There was a debate about the above mentioned topic on www.debate.org
It was very interesting how 50% of the audience said 'yes' and 50% said 'no'.
In favor of topic :
I have a lot of support for Google, and Google Wallet. I believe Google Wallet is a safe and secure way to handle money. With the encryption and expertise that Google has already with money handling, and security, I have complete support for Google and the Google Wallet feature. I believe that Google Wallet will gain interest and traction as more people become aware of the feature that Google offers.