Google Wallet 2.0.13611 for iOS (iPhone screenshot 001)

Google on Wednesday announced an update to its mobile Wallet application for the iPhone which now includes handy low balance alerts and another feature allowing users to set up recurring bank transfer in order to ensure there’s always money to spend in their Wallet.

The refreshed application did not receive support for the bigger iPhone screens and will be going live in the App Store later today.

Google Wallet is available free of charge.

Update: looks like the search company prematurely published the news because the post got pulled within minutes.

According to Google, users can now set up recurring transfers from their bank account to their Wallet on a weekly, bi-weekly or monthly basis. Just tap “Add money” on the main Wallet screen and then choose “Set up a recurring transfer” to set up one.

And if you don’t want to create recurring deposits, a new low balance alert feature will give you a heads-up when your Wallet balance hits a predetermined threshold. You can create a low balance alert by choosing “Low Balance Alert” on the Wallet Balance screen.

Google Wallet lets you send and receive money and is available in the United States for the time being via select carriers and a handful of retailers. On Android, Google Wallet uses NFC to make contactless payments during checkout.

Just like Apple Pay, Google’s solution works with any NFC-outfitted payment terminal and involves using tokens in order to avoid transferring sensitive banking or credit card details over the air.

Released in the App Store in September 2013, Google Wallet lets you scan plastic using the iPhone’s camera, supports gift cards and free debit card transfers, can track your online purchases using receipts from Gmail and lots more.

And just like Apple Pay, Google Wallet is no longer accepted at CVS and Rite Aid after the retailers shut down NFC access on their terminals to prevent the likes of Apple Pay and Google Wallet from functioning.

[App Store via Official Google Commerce Blog]