When Apple gets into mPayments, it is highly likely that Passbook will be pivotal. Not just for the payment function itself, but more important, Passbook would be the center of the "non-payment" parts of an mWallet...the promotions, coupons, and advertising.
Why would these functions be so important to retailers?
- For the average retailer, marketing (promotions, advertising, coupon) costs are enormous.
- Marketing is where retailers invest much of their creativity
- Marketing is where the retail brand image is created
- Passbook is an open platform with a brilliantly simple architecture. We've barely tapped it's potential for brand promotion.
Passbook could become the highest value real estate in the retail shopping market.