Your phone knows so much about you yet we fail to maximize the usage of that data. Your iPhone has all the contextual information you need for your day-to-day activities and that includes paying at local businesses. I want to build a more connected world with the help of beacons and so I built Boldr Payments - it uses beacons in local restaurants so you can just use your phone to speed up the checkout process.
I designed a large scale deployment of beacons to identify local businesses so that as soon as you walk in to a business, your phone already knows all the details and all you have to do is approve a payment. For dine in places, each table has a beacon that lets you view your total bill through Boldr and for register-style places, the beacons tell the servers that you have entered the establishment and they can quickly request a payment as soon as you walk in.
The coolest part is that I built 2 apps - a register for businesses and a payments app for customers. It integrates into the business side as a add-on. Instead of replacing the business' entire POS, Boldr Payments just serves as an additional payment mechanism and it uses direct bank-to-bank transfers with the help of Venmo (no fees for the business and easy for the customer)! I believe that beacons will lead the Internet of Things revolution and payments are just one of the many awesome ways to use these beacons.