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How will Apple's new mobile wallet Passbook impact other mobile wallets?

Update: This article was written by one of our contributors Brian who had predicted Apple Pay like systems in 2012. Isn't that Incredible? Read More if you don't agree...

Apple has entered into the mobile wallet marketplace by sticking just a toe in the ocean of mobile payments. In the process Apple will change just about all aspects of discounts, ticketing and payments.

Meet Passbook

Today 6/11/2012, is the moment that many have waited for, the beginning signs of the Apple mobile wallet called Passbook. Passbook is an iOS 6 app fully integrated into iOS 6 with developer APIs to extend current features to other iOS apps. Passbook will have APIs for centrally locating just about all gift cards, loyalty cards, reward cards, incentive cards and ticketing. Much like the iOS Newsstand and Books apps this is more of a conduit for innovations.

Passbook is partly the work of the designer of Starbuck’s very successful 2D barcode mobile payment solution, the mobile wallet and NFC genius Benjamin Vigier now working at Apple. This guy is a powerhouse that designed Paypal Mobile, Sprint MyMoneyManager, Mobile Wallet applications for 2 top #5 US carriers, mFoundry Mobile Banking WAP platform, NFC Wallet for a top 3 US bank and led SanDisk mobile commerce and NFC activities. We will see a great deal of his work at Apple in the coming months.

I have had some time to digest my early exposure and early information about Passbook and can say with rather high certainty we are seeing the first brick in Apple’s mobile wallet system.

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