The release of the new version of Google Wallet in late January appears to be paying dividends.

Installs of Wallet have topped 5 million in recent weeks, although the rate of installs appears to have slowed, according to Google data.

Google Wallet has received lukewarm reviews from users. On Google Play, for example, the app has rating of 3.1 out of 5.  Users like the functionality, but the overriding complaint is this: “few places accept it.”

The new version of Google Wallet, released on Jan. 28, includes the ability to support any credit or debit card from Visa, MasterCard, American Express, or Discover; remote disabling; and an improved user interface, application stability, and battery life, according to Google.

Learn more about mobile wallets at Bank Innovation 2013, March 18-19 in San Francisco. Click here for details.