Year One: Future Project


I have decided to create a report on what mobile phones will be like with the newest technologies and if they were integrated into mobile phones. I will be looking into possible factors of mobile technology and using possible ideas for mobile phones. Mobile phones were first created in the 1900’s but analog telephony or 1G as its known was first created in 1979. Since then many phones and types of generation phones have been released such as digital communication (2G) and wireless (3G). Broadband fourth generation should be fully released by 2011.

My idea is to create an iPhone application that can turn their mobile into a handheld credit/debit card terminal by allowing banks to immediately process payments through their iPhone wherever 3G or WI-FI is available. This application would run through a secure gateway and whoever has the application would sign up securely, put their credit/debit card details and expiration date and this will be stored for future transactions. After you have signed up you login but you must use your fingerprint to login first time you would put your fingerprint on the iPhone and it will remember it using the latest technology and then you would start paying for transactions (for example at a bar/club you would use your iPhone to connect to their secure network and their menu would come up for you to look at and on your iPhone select what you want to order, pay using the application whilst at your table, by submitting your pin, and then the payment would be authorized and your food/drink would then arrive at your table in the time specified. Also receipts will be stored incase for future reference such as printing or storing. This application can be used at high street stores and online.

After doing research I found an application called ProcessAway which did most of what my idea is but charges a lot to sign up and only used credit cards whereas my idea involves debit cards.  Also when you signed up for an account it charged you a small fee for handling these transactions. My application will cost nothing to handle transactions but a one off fee for buying the application will be incurred.

This was referenced from:

Great Rates with No Monthly Minimum Discount

· Rate 1.99% (Visa, MasterCard AND Discover. Rates for AMEX slightly higher)

· Transaction Fee 24 cents (19 Cents + 5 Cents

· Statement Fee $10.50

· Gateway Fee $10.00

· Monthly Minimum Discount $0.00

· No Application Fee!

· No Merchant Account Setup Fee!

· No Setup Fee!

There are many advantages and disadvantages to having this type of application as I will show below:


· Easier to pay for transactions and more secure than paying over phone calls or emails.

· Payments will not be rejected as your balance will be on screen when application is running so you know if you can afford it or not.

· Online payments will be secure, no hacking as it is 100% secure.

· 24/7 shopping so you don’t have to wait to buy anything.


· iPhone battery could die and you might have no other form of payment.

· Could only apply to people with 3G phones or have WI-FI capabilities.

· Could be costly.

· Would have to train staff to use new equipment.

· If lots of people use it at same time it could slow down the system.


My conclusion would be it is a good application to have but only when you are in a rush and need to be somewhere, and even then it has the ability to cause problems if the system is down. I would only recommend it if lots of people in the area decided to get the application, otherwise many people would complain if time is taken if there are problems and if people decide it is not better than debit cards.

If there are any questions, feel free to leave a comment.


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