If you're only looking to match a point location, then you can use simple string comparison.
If you want to do full distance and azimuth calculations on the geoid, then you'll need math that the arduino is likely not going to be capable of doing (are there any high resolution floating point libraries with transcendental functions?)
1m accuracy is likely to be tricky. You need 5 decimal places of lat/long to get to about 1m accuracy on the equator. You may well find that the accuracy of your GPS is the determining factor.
Using it only for point location.
Accuracy of my gps rx is 10m