Update: Director of Product Management for Google Wallet Peter Hazlehurst dropped by our comments section below to confirm that Wallet is not compatible with the new Nexus 7 for the same reason as the HTC One Play Edition – the device does not carry a secure element, the small bit of hardware required to store encrypted card credentials on a device. This is required in order for Wallet to function, well, securely.

If you're the owner of a 2013 Nexus 7 and if were planning on using Google's own mobile payment solution with the NFC-toting slab, you may be surprised to learn that Google Wallet is in fact not compatible with the latest seven-inch addition to the Nexus family. Not yet, anyway.

Last night, we received a tip bringing this to our attention, and it turned out to be true – Wallet can't be installed from the Play Store, and can't be installed using the latest APK either.

Screenshot_2013-07-27-12-02-55 Screenshot_2013-07-27-12-07-14

Right now, we're not sure what the hold up is with Wallet compatibility, but we've reached out to Google on the matter for an official statement, or word on whether the service will ever live happily on the new Nexus 7. We'll keep you posted as we learn more.

Thanks Keith and Justin!