Google Wallet received its first significant update in a while today, with a mildly refreshed UI, bug fixes, but no new features. In fact, as Ron points out, references to all the features we were excited about having actually been removed from the app. Like the Wallet Card, and P2P money transfers. It doesn't mean those ideas are dead, per se, but we would guess it does mean they're experiencing some delays. Who knows, they could pop back up at Google I/O. The new version number is 1.6-R96-v13.
Anyway, this latest update finally rids Wallet of the Gingerbread-esque tile layout that Google encouraged developers to adopt way back when, and picks up some holo-y accents, such as navigation tabs (which were in some areas previously, but now are throughout the app) and a proper action bar.