As of right now Apple only allows a select few colleges to add their student ID to their apple wallet. From there the student can access their ID on their phone or wallet and use it when needed. Uses for it includes unlocking dorms or paying for items using college currency. After a semester of use, we wonder how this upgrade is working and in what way people out of college could work with it. Luckily on Techlifetoday Co team, we have someone who currently uses it.
One of the schools that allow their students to do this is Tim Cook's rival college. The University of Alabama was one of the first presented on stage when this announcement was made. At the University of Alabama students commonly use their student ID on iPhone to spend dining dollars, access buildings, or print papers. Some uncommon uses are to present football tickets for access to games or check the funds left on their accounts. If someone loses their ID, there is no reason to go and replace it as their phone can do everything the ID and more.
A common question is how is it working out so far? From personal experience, it works just as well as any card on the Apple Wallet. Payments process in an instant and doors open as soon as it's scanned. Most students with an iPhone commonly use this function instead of carrying their card around. A few have even lost their ID and have yet to spend the money to have it replaced.
How would this work out in a real-world function? By seeing this function available I wouldn't be surprised if companies put their ID on iPhone as well. Corporate offices currently have ID scanners at every door, and people forget their ID every day. It's rare for people to forget their phones so this would save people if they make a mistake.
Overall the student ID program has been a success for Apple and its only a matter of time before all college campuses have upgraded to this system.