As of yesterday Google launched their Google Wallet app for iPhone. The app allows you to send money to friends and store credit cards, debit cards, loyalty program cards and coupon-style offers.

This is definitely a solution the next time you go out for dinner with your friends, and no one has cash – one person pays, and the rest email their share of the bill to their friend. So simple.

The app is only available in the United States for now, and only American friends can receive money. The app comes with some cool features. There is 24/7 fraud monitoring, and you can disable the app without physically having your phone. Google is even offering purchase protection!

Although Apple applied for a patent on a virtual/digital wallet a few months ago, they still have not released anything that would compete with Google Wallet. The closest thing they have at the moment is Passbook, which only allows you to store digital tickets and loyalty programs.

Now that Google has expanded it’s wallet app beyond Android, what do you think Apple’s next move will be?

[Source: Venture Beat]