Apple Inc. is moving into the mobile wallet arena with a new app to consolidate passes, store cards and movie tickets.

The Cupertino Calif.-based company at its World Wide Developers Conference on June 11 reportedly announced "Passbook," a barcode-based app that enables users to store various cards and passes in one place.

The app makes it easy to find airline tickets, hotel check-in passes, Starbucks cards and store loyalty cards, according to reports from NFC World and Forbes.

Though there is no payment function, Passbook shares many features of a mobile wallet and uses geolocation so relevant cards and coupons pop up first when a user nears a store or other location tied to a stored card.

Developers may use templates to put their passes and cards into the app, NFC World says.

Consumers can use the app to securely "shred" expired or unneeded cards, Forbes says.

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