We believe Apple Pay and Passbook have tremendous upside potential and have laid out 15 potential future uses of Apple Pay / Passbook including
1. Mobile Wallet,
2. iAds,
3. Payment Processing,
4. iBeacons,
5. Loyalty Programs,
6. Expanding into mobile POS,
7. Hotel Keyless Entry,
8. Automobile Keyless Entry,
9. Work Security Access,
10. Personal Home Entry,
11. Subways and Mass Transit Travel,
12. Airline Boarding Pass Verification,
13. Driver's License & Identification,
14. Healthcare Identification,
15. Consolidated Financial Information
Thus far Apple Pay has only launched in the United States and we are closely watching its adoption not only in the US but also as it gradually rolls out globally. But to be clear, we see Apple Pay as a sub component of Apple Passbook and we expect significant innovation that could lead to additional economics for Apple.
