In business the handshake often comes with a business card. The makers of the Handshake app hope to put the entire process on your iPhone. The app — there is a free and paid version — gives you the ability to send contact information (yours or someone from your contact list) or photos. You must, however, both be using handshake to make the transfer (you can view a Handshake YouTube demo).
It works pretty seamlessly, but the necessity of the other user having the app makes it limiting. It would work best if you and a group of friends or colleagues all agreed to use the app. Then it would make contact and photo sharing a rapid, painless process.