By 2020, smartphones will replace cash and credit cards

Do you already use your smartphone to make daily purchases instead of cash, debit, or credit cards? If so, you’re on your way to contributing to the study that believes by 2020, mobile payment will make all other payment methods obsolete.

Seeking the opinions of 1,021 “Internet experts and other Internet users,” the findings come from the Pew Research Center’s Internet & American Life Project and Elon University’s Imagining the Internet Center. This research concluded that 21 percent of smartphone users say they already use their smartphones to pay the bill and two out of three respondents believe people will begin migrating toward the method by the decade’s end.

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