Apple?s Passbook Could Be A Platform, Not Just Another Mobile Payments Rival

At this week's WWDC, Apple introduced a new application called "Passbook," meant to function as an organizer for all your passes. It supports store cards, gift cards and coupons out of the gate, replacing their plastic counterparts, and?providing an Apple-approved way to get consumers paying at checkout with their mobile phones.?At first glance, it seems that Passbook's?launch is bad news for mobile wallet players like Square, PayPal, and others. But it might actually represent an opportunity for everybody else. Besides the gee-whiz factor of having scannable cards organized in a pretty interface within the iPhone, the most interesting thing about Passbook?is that the digital cards are able to make use of the iPhone's geolocation capabilities. "When you get to the movie theater, your ticket automatically pops up on the lockscreen,"?explained?Scott Forstall, Apple's SVP for iPhone software, demonstrating how a Fandago movie ticket in action.

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