Do you know the size of fraud departments at banks and payment providers, and the budgets going into fraud prevention every year? A bank card is as easily destructible as a smartphone is, but is far less secure, as we're sacrificing security for usability.
If we're comparing smartphone vs bank cards, it's only fair to presume that the bank cards are equipped with EMV, because magstripe terminals won't be able to accept smartphone either. In that case, I fail to see any security advantage over smartphones.
