The Lemon financial app is taking a twist for the better with its new update.

Previous versions of the app allowed users to digitize receipts and get a better idea of spending habits. But version 4.0 expands that with the introduction of the Lemon Smarter Wallet.

Thanks to feedback from users, the app now can digitize your entire wallet by organizing and storing credit cards, debit cards, loyalty cards, receipts, spending reports, special offers and more. So, if you ever lose your wallet, you’ll have a complete, secure copy on the app.

And to quell any security concerns with keeping so much important information in your iPhone, the app offers anti-theft, bank-secure pin and SSL encryption.

Entering your cards into the app is very easy. By simply taking a photo of the card, it is automatically entered into the digital wallet.

The app is designed for the iPhone/iPod touch but does work with the iPad. It can be downloaded in the App Store for free.

Users can also upgrade to the pro membership for $9.99 a month. Along with the ability to scan unlimited cards and receipts with line-by-line details, you can export spending data and get offline access to your Smarter Wallet. Pro members also enjoy an ad-free experience.

Since I’m about to go on a family vacation soon, I think the Smarter Wallet is very interesting. I like the idea of having a complete wallet backup on my iPhone whenever I need it. And the ability to track my spending habits probably wouldn’t hurt either.