New York – Google, along with Citi, MasterCard, First Data and Sprint,  today gave a demo of Google Wallet, an app that will make smartphones into mobile wallets.

The app will allow users to store credit cards, offers, loyalty cards and gift cards, all in one place. Google also aims to include even more features in the Google Wallet app, such as boarding passes, tickets, ID and keys.

In the beginning, Google Wallet will be compatible with Nexus S 4G by Google, available on Sprint. Over time, Google Wallet will be available on many more phones.