Yeah, Microsoft is trying to copy Apple hard and is becoming app-centric, meaning that they want the apps do all the work for the OS: need Facebook app to share to Facebook, etc.
For the Wallet, they want you to utilize commerce.microsoft.com and add everything on there. Really stupid, frankly. Also note that you can't edit card nicknames and information. Again, that is stupid because I'd rather identify my debit card as Bank and not Visa x0000. PayPal and the Microsoft Gift Card is fine, just cards themselves.
Oh, and don't get me started on loyalty cards either. Walgreens, for example, saves your Balance Rewards info into Wallet. Where the hell is the barcode? Sure, you got the digits, but no barcode OR image, just the standard Balance Rewards logo. Likewise AMC Stubs. You can save your membership in Wallet, but again, no way to pull up a barcode without using the AMC application. You see some string of alphanumeric characters with symbols, but that means nothing to the actual consumer nor the box office... nor the barcode scanners.
In 8.1, Wallet is probably my number two worst first-party app, other than the three-way tie of Games, Music, and People.