I was recently sent a YouTube video showing the latest PayPal iPhone app.

The idea that you can simply pay for something by ‘bumping’ or via an app is truly far-reaching and I believe has the potential to fundamentally change not only the way money is distributed, but also our behaviour in terms of how we purchase goods.

Imagine going into a store, finding the item that you want and instead of queueing to pay simply ‘bumping’ a sales assistant or some kind of central payment collection console. Whether it is transferring money, securing a loan even, paying for last minute insurance, even paying a speeding fine, this has the capacity to change behaviour.