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This fall, the launch of Passbook marked Apple’s first foray into the crowded arena of alternative mobile payment schemes. Considering its well-founded reputation for producing disruptive tech, it’s tempting to assume Passbook is destined to do the same. And there’s certainly an argument to be made that the company has some distinct advantages in its favor – not least, a fanatical and still-growing iOS user base of tens of millions in the U.S. alone.

But a few high-profile failings have shown that the company is indeed mortal, most recently with the high-profile implosion of Maps, or the ill-fated Ping – Apple’s half-hearted attempt to shove social networking into iTunes that was mercifully cut short (in favor of integrating Facebook and...