Why Experts Say There's No Way We'll Get Rid Of Cash And Credit Cards By 2020

here's the nitty gritty:

"For starters, not everyone will use a smartphone. Other analysts raised questions about whether credit card companies will move away from the current profitable system in the developed world.  Other concerns include the potential susceptibility of (devices) to hackers, market fragmentation, and lack of interoperability of mobile finance systems due to the many different platforms being developed and implemented, and questions about whether consumers will feel comfortable storing the intimate details of their financial lives in the cloud," according to Pew.