So who exactly is Brian Wong? Brian is the wunderkind founder of a new company poised to reinvent mobile advertising: Kiip. After pitching his concept for Kiip to True Ventures, Brian, at the age of 19, received $200,000, making him the youngest entrepreneur to raise venture capital, according to Techcrunch and the Wall Street Journal.

Mobile payment systems enable consumers to use their smartphones, instead of cash or credit cards, to purchase products or services in stores. A number of these systems leverage near-field communication (NFC) chips installed in smartphones, such as Google’s Nexus S and the rumored next-generation iPhone. When consumers touch or wave their NFC-enabled smartphones at devices installed at registers, the NFC chip communicates with the register to process the transaction.

It goes without saying that the onslaught of smartphones, enabling wireless technology and local daily deal sites in the past few years has paved the way for a revolution in all things location. And the steamroller shows no signs of slowing down as more and more would-be players, innovators and marketers enter the space in droves.

Although SXSWi is a done deal for 2011, we still have fond memories of the seminal digital event of the year. In our next installment of the SXSWi recap, we’re featuring the feedback of more of our dynamic staffers who were present for the tech fest to share what we thought were the best highlights of the event as well as the things that could be improved upon moving forward.