here to talk about the broader impact is david wellver, the founding editor of money under 30 that's a personal finance blog for young professionals. a good guy hacker. so david, mobile payment systems aren't new. but they are certainly gain in popularity how do these work? >> well, basically, they store your financial information, so let's say your credit card number, or your debit card, in your phone. and then after the point of sale, if you are at a store, you can simply tap your phone, or swipe the bar code, and put it in a pin in the phone and that sends your information to the merchant, and the other way they are popular is to send money to friends let's say you go out to dinner and someone picks up the whole tab, be uh you owe $25 for your share instead of going to an a.t.m., you can say with your mobile phone, i want to pay my friend sally $25 it transfers that money to her account. >> what is happening now that companies like apple and twitter and facebook and others are wanting too get in on the game. >> that interaction that takes place, you multiply that by tens of million