You can't download Wallet through the Play Store on Verizon phones but if you download the APK from somewhere else it works fine. I use Google Wallet on my Verizon Galaxy Nexus using the above method and thankfully I did as I forgot my wallet the last time I went to CVS and it came in handy...
Steve MehsGun Control Is Using A Steady HandPremium
I can download Google Wallet on my Droid DNA via the Play Store, in fact it came preloaded on the phone. Since it's basically useless on Verizon, I uninstalled it. When I would launch it, I'd get the same message that's in the picture above.