Abort, clear data on wallet and re-open to try again. This happens sometimes. Once your all set up remember to restore your build.prop through the wallet installer app to finish off the process.
Sent from my SCH-I535 using xda app-developers app
Thanks for the tip. I aborted the process but the phone rebooted a few seconds after the abort. After reboot, there still was no Wallet. I ran the installer again and this time, it ran for a few seconds and rebooted the phone by itself (no abort). And Google Wallet was installed this time. I set up my Google Wallet and used the app to restore build.prop. The phone rebooted again but build.prop does not appear to have been restored because product.model is Galaxy Nexus. I don't see a backup copy of build.prop. I am not sure if this is the only mismatch because build.product is d2vzw, which is correct.