Among the cool new features, iPhone 5 will come with a new Maps app with Siri-powered turn-by-turn directions and a Passport app that will store digital versions of your affinity cards, boarding passes, tickets, coupons and, eventually credit and debit cards, so you can get on a plane or into a stadium or pay for a Starbucks coffee by flashing a bar code on the phone.
The concept is certainly familiar, and functions in much the same way as a QR code, generating flashing light that's invisible to the human eye instead of a cumbersome 2D square.