One of the big new features in Windows Phone 8 is shaping up to be the Wallet Hub. Joe Belfiore just concluded a significant demo of the functionality of the app, and it's not just as simple as mobile payments. In essence, the Wallet Hub will become your wallet for pretty much any transactions you make with your phone -- and that includes buying apps in the Marketplace and in-app purchases (finally!).

First of all, the Wallet Hub will be the most robust way to manage your monetary info. Credit cards, debit cards, carrier billing and possibly even gift cards will be included in the application, and you can mark which ones are enabled for purchases in the Marketplace. If a credit card brand has an app, the Wallet Hub will recognize it and let you tap into the app -- one example was an official Chase app (coming later this year).

Another big part of Wallet will be Deals, which is a coupon service that will let you claim discount offers straight from your phone. Deals will also be baked into Local Scout, and if there's a deal for a certain restaurant or another place you can tap on the Deals Card to let you see how you can claim it. Finally, the Wallet app will be the enabling backend for in-app purchasing, which should make plenty of developers very, very happy.