Via a Google+ post, the Google Wallet team tells that it is building a new Wallet app for Android and iOS.
This app will allow anyone who has a US debit card to send and receive money with no extra charges in a matter of minutes, even if the other person does not have the app. Money can be sent directly to your bank account or it can be used in stores using a Google Wallet card.
Of course, this is just an initial announcement, so the app currently is far from ready. The Wallet team adds that it expects to share more details in the next few months.