The integrated service is now live on both iOS and Android versions of the Lemon Wallet. Having saved consumers over one million dollars in hidden fees and deceptive charges via its BillGuard.com service, BillGuard is now extending the same, trusted service to digital wallets.

"Consumers today are more mobile than ever. Using their smartphones to make purchases and organize cards, receipts and coupons offers them more flexibility, but it also provides a new channel for potential billing errors, deceptive charges and fraud. To address this, BillGuard is now taking their proven big data and crowdsourcing technologies and bringing them to where our customers are saying they need it -- in their Lemon wallets," said Wences Casares, founder and CEO, Lemon. "Being able to track account balances and provide alerts on questionable charges is extremely important in providing a layer of personal finance security that our Lemon Wallet customers expect."

"Along with the game-changing promise of digital wallets comes a need to re-think and re-engineer digital card protection," said BillGuard founder and CEO Yaron Samid. "BillGuard's crowdsourced transaction analytics and notification engine has been designed with these unique security challenges in mind, ensuring trusted commerce everywhere, on every device. We are excited to now be available via leading digital wallet services and announce our digital wallet partnership with Lemon, a true pioneer."

With nearly half of Americans owning smartphones, it is becoming more common for them to use these devices as digital wallets. Yet there has not been a service available that protects consumers from deceptive merchant practices, which are rarely tracked by fraud and identity theft services. Many of these charges are relatively small -- often just several dollars each -- but can go undetected for months, even years. Significantly, based on a recent study conducted by BillGuard, one in four users has incurred some type of erroneous or deceptive charge in the last six months. And among those users who have been affected, the average of these charges is about $350 a year.

"Digital wallets are getting a lot of attention -- especially as major brands like Apple and Google continue to unveil new offerings," said Rick Oglesby of Aite Group, an industry analyst firm. "But there is still legitimate concern over security and even concerns about over-spending due to ease and convenience. With BillGuard bringing its service to digital wallets, they are helping consumers, financial institutions and merchants alike to ease these concerns by providing a new layer of protection to this new frontier."