Loans over the Smartphone

Read this:Personal Finance: New App Allows You to Borrow Against Your Next Paycheck Over the Phone

http://investing.bryanellis.com/11149/personal-finance-new-app-allows-you-to-borrow-against-your-next-paycheck-over-the-phone/


That is kind of scary, especially in money tight times were the paycheck earner has a phone and a way to spend before they work. It is true, that app mentioned in the article above does work and quite honestly, it is a credit card gateway device where all you will need in the future is your phone like device.

The phone like device will fit in your hand (already done) the device will also become a commerce tool (almost 100% there) and the device will become a hand held visual communicator where one can see their entire family in real time planets away (the tech is there we just need the time/space bendy adapter.)

Kind of creepy when it comes to big brother; however, necessary for a growing economy and placation for the masses. So, then why is payment leverage important? It is the idea that the thing in your pocket or your hand can count numbers, it will count money anyway and be able to pass as a transistor for credit card payments. It can receive credit card payments today with adaption devices; however, I am talking about a program that can show a bar code or some other signal/ID for rendering payment via paypal, credit card, etc... This will eventually replace wallets and people will travel lighter but very data heavy with all the apps and stuff on their phone like devices. (This begs the question of when phones will become large boxes in our pants or just too weird to hold up to your own head because they are too large.)

Market data suggests that new phone like devices are becoming saturated in America and other developed countries and that other undeveloped countries have a laggard due to technology and utility cross over. So, the bet is when is the phone too large to hold up to your head to use the phone elsewhere? As big as a 8 X 11 sheet of paper? Won't people be worried about the radiation or the screen image becoming like a tattoo on their face if they talk too long (if the screen does not black out during phone usage?) I think industries understand when that point is, but let me tell you that I think it would be bad etiquette to hold a large piece of paper phone like device up to one's skull and talk to it. But I digress, it is truly the next generation of payment systems though the phone or even though the air to pay (think pay pal.)

Then lies in the question n of labor distribution and economics of how these payment systems on credit is going to work. In a larger frame of mind, what segments of the population will have too much credit rotation on these devices? My bet is business and commission based workers, but is only a guess as these workers tend to be the prime market for today's smartphone tech. Then what leverage in time is too much? What income can be created from the leverage (or reduced expense exposure.) Sure make an app for that too for every device and then leverage off of that why don't they. (PS if you are going to take that idea, please give me some kind of royalty or reward; it is only the natural course of things and since this is a publication, it is best to honor traditional common sense as maybe I will be able to provide free or reduced payment consulting if you are reading this as well. Again, it is an idea.)

But seriously, how this might affect the labor market is important to understand; for employers, employees, marketers/salespersons, and the older generation alike.