The document discusses Apple Pay and Passbook. It provides 5 things to know about Apple's new mobile wallet system: 1) What is Apple Pay, 2) Passbook's role in centrally managing passes, 3) The streamlined user experience, 4) The value propositions for consumers and retailers, and 5) Examples of best-in-class mobile wallet programs. Marketers are encouraged to think holistically about how to activate various channels and campaigns within mobile wallets to drive engagement and conversions.