People assume that everyone will be using these smart phone apps...

People assume that everyone will be using these smart phone apps and it will be the killer of the card and voucher system. Assumptions do cause fups yet people still make them.

Look how easy it is to enter the 'app industry'. Most companies are joining in the app war each month. Not long ago it was just Ingogo and GoCatch, now there are three extra companies implementing the same thing. More in the future more likely given the low startup costs.

While the apps fight it among themselves I believe CAB will still have it's own monopoly in its own payment system. It has always been cash vs card. Apps simply become part of this "cash" in my opinion.

One of the value you mention PP is an example where I still believe corporates or government will not allow their employees to use a phone app to catch a cab or use a phone app to pay for a cab.