Could this Google update be the way to share your car without handing over your keys?

Google has announced a new Android update that means Google Wallet will allow you to share your car keys digitally, while now keeping more control over how that happens.

Yup, you won't need to hand over your physical keys if you want someone else to drive your car. Instead you will be able to share access via Wallet, allowing them to drive your car. But you can also limit how they have access.

This could be a great move for people who want to let another drive them home after having a few drinks. Or, perhaps after leaving the car at home and going out with your keys, this will let you share a digital version so others can use it and - even better - pick you up.

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This also opens the gates on car sharing platforms to utilize this option in dishing out digital keys, and sharing them between devices more easily.

To be clear, Google Wallet has let you share car keys before, but now the level of controls are far more rich, making this a more genuine reality that actually gets used in real life.

This new version allows for three options: co-owner, guest and service. As you'd imagine co-owner gets similar privileges, ideal for a partner you share the car with. Guest is more limited and suits you lending this to a friend, for example. The service option is even more limited, designed specifically for mechanics or a valet to access.

You can set specific restrictions as you want including speed limits, acceleration limits and even caps on how loud the music will go - ideal for parents giving access to their children.

This update also makes moving the key easier across your devices, which should help when syncing across your Android phone and Wear OS device, if you're using both.

When is the Google Wallet car key sharing update available?

Google includes this update in its May Android overhaul that is rolling out right now and will reach devices across the coming weeks.