Verizon Galaxy Nexus users have had a long and shaky history with using Google Wallet on their devices. Now it seems that some entity -- be it Verizon or Google -- may have finally pulled the plug on this one. Users in our forums are reporting that the Google Wallet app is no longer working on their devices and is unable to be updated or installed in the Google Play Store. We're not sure at this point why the app is pulled or whether it will be coming back, but hopefully we'll hear something more definitive soon.
We recommend you go check out the thread in our forums where users are reporting their findings. There's a good chance some ingenious hackers will find a way around this soon enough: Verizon Galaxy Nexus Forums: Google wallet problem.