On the panel:
In a nutshell, the breath-taking demo was for an airline ticket. In Apple's on-stage demo, when you buy an airline ticket you will be able to store it in your Passport. Even if the flight is delayed or the gate changes, the ticket in your Passport will always be up to date. So, imagine Apple coaxing every store at airports to support Passport as well. You can then walk around the airport and buy anything with just your iOS device, through your iTunes account. This takes us back to small paperback-only bookstores in the 1980s opening up first in airports, then spreading from there.
Bitmenu is enabling brick and mortar stores to offer coupons to be redeemed at physical locations in much the same way. Merchants can welcome new visitors to their store and they can buy on their mobile devices (not just iOS).