But why go to all the trouble of creating a new payment system when there are plenty of alternatives already in place?

FORBES: Paying For Stuff With Your Phone

The BBC's Orla Guerin, in Pakistan, says that a week after Sahil's disappearance it remains unclear whether there has been contact with the kidnappers of if negotiations were taking place over a ransom payment.

BBC: Raja Saeed and Sahil Saeed

As soon as this came to our attention, action was taken with the suspension of Visa payment acceptance to the site remaining in place.

FORBES: Visa Shuts Down Card Payments To WikiLeaks--Again

PayPal and Discover compete with Visa, American Express and private companies such as Square that offer innovative payment services (or aim to) in place of cash and checks.

FORBES: Discover Money Messenger Deal Sends Positive Message For eBay Stock

Not only will the service help you spend smarter, but could be a god-send for anyone who loses their physical wallet or purse as the App will aggregate all of your credit card and payment services in one place.

FORBES: Will Wences Casares's Lemon.com Replace Your Wallet?

Is there enough equity to take cash out and consolidate debt, and if not, will PMI (Private Mortgage Insurance) be added to your payment and negate the benefit of refinancing in the first place?

FORBES: The No-Cost Refinancing Myth

But as soon as that was done, I watched the money I had once thought would be a down payment on my own place someday dwindle, owing to the additional expense of health insurance.

FORBES: I Work Three Jobs and Still Can't Afford Health Insurance

The layoffs are a result of Lloyds' takeover of mortgage lender HBOS last year, and the bank said most of the cuts would take place in its operations unit, including IT and collections and payment services.

FORBES: Germany's ZEW Weighs On Europe