Mobile payments are poised to be the future, but what are your rights when using a smart phone as a method of payment?

The truth is that technology is far ahead of the law. During a recent hearing, it emerged that as the transaction is processing when you use your phone to pay for something, the merchant can swoop into your phone and steal personal info from you. It may be your address or it may be where else you've spent money or any other number of things. It truly is the Wild West.

Now, I love new technology and often jump in with both feet first before I think about the implications. But this time will be different though for me.

Even though I think mobile payment platforms can be great if done right, I want to warn you away from them. They are not safe right now. Don't sign up for any of them, whether it's paying with your phone at Starbucks or anything else you'll see this year and the next.

The reality is we need rules of the road and they don't exist right now.