Originally Posted by gregs887
I have only heard of that happening when flashing new ROM's without wiping the Google Wallet information first. Are you rooted and unlocked?
I bought the unlocked version direct from Google. The phone was never rooted and never tempered with in any way.
The only thing I did was factory reset. I ran the Google Wallet app after the reset but before the Wallet s/w update. Maybe running the older version of the program is what confused the phone and triggered the self-destruction of the secure element.