Apple Wallet pass
An Apple Wallet pass is a signed file that lives in Apple Wallet or Google Wallet. Because it is signed by a certificate tied to a developer account, it can be updated after it is installed: a stamp count can change, a balance can move, and the pass can appear on the lock screen near your shop. That is what separates a pass from a loyalty card that is really a photograph.
In practice
A Wallet pass is a signed file that lives in Apple Wallet or Google Wallet. Because it is signed by a certificate tied to a developer account, it can be updated after it is installed: a stamp count can change, a balance can move, and the pass can appear on the lock screen near your shop.
That is the difference between a pass and a loyalty card that is really a photograph. A photograph cannot update, cannot notify and cannot be scanned reliably.
The practical requirements are a signing identity, a pass type identifier, and somewhere for the phone to fetch updates from. Those are build decisions, and they are why a pass takes a day of real work rather than an afternoon in a design tool.
Also called: Apple Wallet loyalty card, digital stamp card.