Passbook is growing quickly with iPhone owners, according to developers who jumped onboard early.
Passbook works with your other iPhone apps, such as Fandango and Starbucks by storing your funds in one place and making it easy to pull up a virtual gift card on your iPhone by using location information. For instance, when you have money on your Starbucks card, Passbook will give you a notification when you’re near a location and all you have to do is swipe and you can quickly scan the gift card and pay for your coffee.
Wired reports that many of the retailers are finding that the app is proving to be very successful. Much more successful than many had anticipated.
While Google has services like Google Wallet, which uses NFC technology, Passbook is a different concept. Wired explains that Passbook only requires the cashier to scan a barcode or QR code on your iPhone while NFC technology means retailers have to upgrade their checkout systems in order to make use of it.
Just for kicks, we put $10 of credit on our virtual Starbucks card. It works very well. We would drive to our preferred location and the notification would pop up on the lockscreen. After that, the money was just a swipe away. It was actually faster and easier than paying with a debit card or with cash.