Google has released the new version of the Google Wallet app ahead of the launch of Android Pay. The two apps, both developed by the search giant, allow users to make transactions via mobile devices. Google has rolled out the Android Pay app for both Android and iOS.

The Google Wallet app is available to Android and iOS as well, and according to a report from NDTV Gadgets, users of the old version of the app have been informed that it will be replaced by the Android Pay app. "This app will be updated to Android Pay in the next few days." The listing of the old Google Wallet app stated.

The user's money in the old Google Wallet will then be retained in the new Google Wallet and Android Pay. This will be the case regardless of the user using the app in Android or iOS. The new Google Wallet features a redesigned user interface. The revamped version allows users to pay for online purchases and sending money using an email address, among other features.

The old Google Wallet and the new version are both available in the Google Play Store. All the features of the old Google Wallet will be incorporated to Android Pay. Android Pay has been announced in Google's annual developers' conference in San Francisco this year. The service has been under testing over the past few months.

Google claims that the new Google Wallet is a faster and safer way to make transactions and keep track of finances. "It's fast, easy and free to send directly from your debit card, bank account, or Wallet Balance." The service can be availed with the use of a Google Wallet card, and should the user lose the card, he would only have to contact Google's site to have the card cancelled. The same can be done if the user loses his phone.