“The most profound technologies are those that disappear,' wrote Mark Weiser, the chief technology officer of Xerox PARC, in the early 1990s. 'They weave themselves into the fabric of everyday life until they are indistinguishable from it.' This is perhaps one of the greatest tech realisations of our generation, that the technology we use the most becomes inseparable to everyday life. Imperative to it even. This trend is only set to continue and very soon your technological devices will be speaking to each other making this very modern existence even easier.

It has been coined ‘The Internet of Things’ and you need to understand it - it will change your life.

The Internet of Things has been defined as 'a global, immersive, invisible, ambient networked computing environment built through the continued proliferation of smart sensors, cameras, software, databases and massive data centres in a world-spanning information fabric'.

In other words interlinked technology that is set to help you and I, and which will capture data whilst doing it, it has been driven by advancements in technology (miniaturization) and affordability of communication and components such as cheap Bluetooth sensors, and of course the growth of WI-FI. Connecting multiple devices is no longer a how, but a when.

All of a sudden we’ll be able to gauge our lives like never before, and we’ll wonder how we knew to buy more milk before our fridge told us we might run out, we’ll stick to diet plans when our scales remind us we should be weighing less, we’ll never burn food again because our over will be aware of what it is cooking and the optimum time and temperature the meal should be cooked at, and we’ll be alerted to all this through our mobile devices… Areas like security will see a new lease of life, you’ll know who's at your front door by an alert of your phone and you’ll even be able to see and speak to them from your device. Energy firms will have to adapt becuase now you’ll be able to gage the optimum temperature and set your usage whilst on the move.

The possibilities are endless, and the work we are doing in mobile payments is a small stepping stone into a much bigger picture. In this instance we are connecting your mobile device to the restaurants Point of Sale system.

There is huge opportunities both for existing giants and new companies. Apple recently introduced Homekit, an Internet of Things platform that will co-ordinate various third-party home automation accessories, allowing you to unlock your doors or turn on and off your lights via your iPhone. Google, too, demonstrated its interest by paying $3.2bn (£1.9bn) earlier this year to buy Nest Labs, a home automation company co-founded by the creator of the iPod. Already well known for its connected thermostats and smoke detectors, Nest is currently investigating a slew of other applications related to the home – everything from health tracking to security systems.

Moreover, given the accelerated growth that Android saw between 2010 and 2013 (nearly five times what they themselves were expecting) the Internet of Things will create another generation of entrepreneurs excitably devising their tools to create demand, and this in turn will accelerate the growth.

Some estimates suggest that by 2020 there will be in the region of 50bn IoT devices – all talking with one another on a constant basis IDC said that the Internet of Things is going to generate a staggering $7.1tn in sales by 2020.

What unites products as seemingly disparate as driverless cars and fitness-tracking wearables such as the Jawbone UP is their ability to collect data from, and on behalf of, their users

Ian Foddering, chief technology officer and technical director at Cisco UK and Ireland. 'Actually, the real value and insight comes from the data that these devices provide. We're just at the tip of the iceberg when it comes to what is possible in terms of data extraction. It's a very exciting time.'

This won’t be without its problems of course, post-Edward Snowden the Internet of Things will raise questions about privacy. The questions of becoming more free by giving up more of your privacy is an issue which hasn’t yet been tackled. Now, these questions are particularly pertinent when applied to the digital that surrounds us.

Concerns are being voiced that the Internet of Things will open up horrendous vulnerabilities for our networked society where hackers in the Middle East could get control of our electricity meters and shut down London with the click of a mouse or hacker groups could remotely jam the accelerator in your car so that you crash.

These may be seen as farfetched by some but they are issues which need to be addressed, with so much potential for growth security and reach of the Internet of Things will have to be properly dealt with.

We’ll be keeping a close eye on these things, our mobile payment expertise is a sign of things to come from putitout in the Internet of Things, and its just the beginning.