I assume it is a type of electronic business card, but I'm not quite sure how it works. I am looking to create an electronic business card and it would be great if I could store it in my Apple Wallet. My main source of confusion is: is Apple Wallet Business Card a special type of card or an electronic business card I can share through Apple Wallet app?

You are on the right track. Apple Wallet Business Card is a digital business card stored and shared as an Apple Wallet pass. That's all. You simply open your Apple Wallet from your iPhone and share your card. With a couple of taps, recipients can add the card to their Apple Wallet and have access to your contact details. Basically, you can go completely digital with your networking efforts and avoid printing cards. I shared my digital business card this way many times. It really is as easy as it sounds. Of course, I share it via QR code or URL with Android users too. You don't have to choose; you can do it in different ways with the same card.

I only had a chance to share my business card as an Apple Waller pass a few times, but I agree - it's easy to do it and good to have it as an option. I used Uniqode (formerly Beaconstac). I don't know what other makers offer this option.

Thank you both, it's all I needed to know. I was hoping this would be the correct answer, it's a lot more convenient having only one card.