Will Smartphones Replace Cash & Credit Cards?

Roughly eight months after Apple launched its smartphone payment service in the United States, Apple Pay silently made its debut in the United Kingdom yesterday. With Apple, Google and other big players all having thrown their hat in the ring, it's only a matter of time before we all pay with our smartphones, right?

According to the results of a Harris Poll conducted earlier this year, Americans are not so sure about that. 43 percent of adults in the U.S. think that smartphones will never replace cash for a majority of payments and another 13 percent don't see it happening within the next 10 years. On the other hand, 26 percent of those polled think that smartphone payments are not a fad and will replace the majority of cash payments within 5 years.