Hopefully it'll mean you can just have your bank's app installed to handle it so you won't have any third parties gleaming a look into your purchase history.
Banks were able to create their own NFC payment app, which can be set as default payment provider.
I'm not sure what else Google Wallet is able to do, but I guess this might be about being able to have a default wallet with tickets for events and similar.
Hopefully there'll really be open-source wallets. With banking/nfc pay this isn't possible for service ands security reasons.