Google announced Wednesday that it has of its mobile wallet application, and has added new security features to the system.

The new, cloud-based version of Google Wallet will accept all credit and debit cards from Visa, MasterCard, American Express, and Discover. Adding a card to the wallet is as easy as typing in your credit card number when you make a purchase with the mobile app, online wallet, or in Google Play.

The online wallet can be used to keep track of both online and in-store purchases.

Google has also added two new security features to Google Wallet. Actual payment card numbers are no longer stored on your phone, but are instead stored on Google's secure servers in the cloud. A wallet ID, or virtual credit card number, is stored on your phone.

According to Google, this new system makes it easier for banks to participate in Google Wallet by speeding up the integration process required to add new cards to Google Wallet.