Jetpacks and Tech-Enabled Cities: How We'll Live in the Future

Making payments using your cellphone is easier than ever. In fact, the process of buying something now often starts on a mobile device, and the relative ease of paying virtually is eliminating the need for cash or even a credit card--a trend that is sending ripples through the business world. "Why do you need cash? It's fundamentally less efficient," said Dan Schulman, the president and chief executive of payments company PayPal Holdings Inc. He said he believes digital payments will become an ever-larger industry, with many key players.