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The company’s fourth version of its mobile app, released June 7, takes the wallet idea a step further by offering a place to store your credit, debit, ID, health insurance, and loyalty cards. All you have to do is snap a picture of the front and back of the cards in your wallet and the app will store them in your digital wallet.

Unlike other digital wallets from Square and PayPal, you can’t use the cards stored in Lemon to make payments at stores. However, Lemon’s wallet is a backup should you ever lose your physical wallet or are too lazy to go find your credit card while shopping online in bed.

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If storing your credit cards, driver’s license, and health insurance card in an app on your phone gives you security nightmares, the company assures that it uses SSL encryption and a bank-level secure PIN to keep your information secure.

Lemon is based in Palo Alto and has a team of 21. Its app is available for Android, iOS, and Windows Phone.

Sarah Mitroff June 12, 2012 7:00 AM