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Is Apple’s Passbook the Stealth E-Wallet Success?

Just when most digital wallet experts had forgotten the year-old Apple Passbook — widely dismissed as ineffectual and neutered — a discordant voice wants to get an unexpected message across: just maybe Passbook is the stealth winner of the early rounds of the e-wallet wars, and it is doing it by sneaking in a powerful but largely uncommented upon transaction capability.

“We are seeing many, many dollars added into Passbook and spent by consumers,” said Gene Cornfield, a Vice President at CashStar, a digital eGift Card company that works with an A list roster of companies from Starbucks to the Gap and Dell to Sephora.

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