Technology moves on apace and no area is moving faster than mobile phones. With the continuing rise in sales of SmartPhones, including GPS and always-on connectivity, the possibility to provide location-based services combined with mobile phone payment will be here soon.
This will allow you to receive information, offers and discounts on products and services based on your location. You might be walking along the high street nearing a large retail store and suddenly your phone beeps and a discount voucher appears on your screen. You visit the retailer, swipe your voucher to receive your discount, and swipe again to pay for your goods.
This will undoubtedly make life easier, particularly in paying for small items when you don't have any cash in your pocket. However the temptation to overspend will definitely be there for some. Also a lot of small impulse purchases can soon add up to a tidy sum at the end of the month.
It is also be possible to use your phone as a shopping assistant, taking a photo of an item in a shop and using an app to find info about it and get the best price. Apps could also be involved in money transfer between phones, so you could see car boot sales where the goods are bought by a shake of a couple of mobile phones and the money transferred from buyer to seller.
The security of the mobile payments will need to be excellent and combined with transaction limits to limit spending if people are going to adopt this technology. But any minor objections from people are likely to be overcome and many of the iPhone generation are going to want to get involved with this straight away.
They are the same people who will be using the new features on social networking sites which will enable you to see where your friends are and broadcast your location to your friends to meet up. The issue of privacy here is paramount but not insurmountable. There may be plenty of people who you don't want to know where you are!
Business applications for location tracking are already in use by many businesses who use device tracking systems to keep track of vehicles and employees during working hours. This enables the business to make savings and efficiencies and the systems can pay for themselves within a relatively short space of time.