Google Play Services 5.0 includes a number of key attributes. Below is a summary that will be integrated into each phone –

Services for Android wearables — Your apps can more easily communicate and sync with code running on Android wearables through an automatically synchronized, persistent data store and a reliable messaging interface.

Play Games services — Build a great gaming experience with Quests, which allow event-based challenges for players to complete for rewards, Saved Games (a snapshot API allow synchronization of game data along with a cover-image and description), and Game Profile (providing experience points for players).
App Indexing API — Surface deep content in your native mobile applications on Google search and drive additional user engagement.

Google Cast — Use media tracks to enable closed-caption support for Chromecast.

Drive — Sort query results, create offline folders, and select any mime type in the file picker by default.

Wallet — Build a “Save to Wallet” button for offers directly into your app; use geo-fenced in-store notifications to prompt the user to show and scan digital cards. Split tender allows payment to be split between Wallet Balance and a credit/debit card in Google Wallet.

Analytics — Get insights into the full user journey and understand how different user acquisition campaigns are performing with Enhanced Ecommerce, letting you measure product impressions, product clicks, and more.
Mobile Ads — Use improved in-app purchase ads and integrations for the Play store in-app purchase API client.

Dynamic Security Provider — Offers an alternative to the platform’s secure networking APIs that can be updated more frequently, for faster delivery of security patches.