Smartphone Payments Replacing Cards? Americans Think So

MyBankTracker

By , Staff Writer
Posted on Wed Dec 12, 2012, Last Updated on Wed Dec 12, 2012

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According to a poll from Harris Interactive, Americans think that smartphone payments will eventually be the go-to form of payment, replacing the card and cash of today, reports Finextra.

While customers don’t think that mobile payments will be replacing traditional forms of payments within the next five years, they still believe that credit cards and cash are on their way out.

Of the 2,383 adults surveyed, about two-thirds believed that credit card payments will be a thing of the past, despite only 4 percent having actually used mobile payments.

One area that mobile payments can improve on, according to those polled, is security. Storing sensitive information on their phones was a source of concern for many.

 

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  • Coral

    As a Starbucks Barista, I’ve seen many of our customers converting to digital Starbucks cards. The application has been designed to be really efficient and secure, so if other companies can catch up, this prediction might well hold true.