I agree with that. I feel a lot more secure by not carrying any cards and using Apple Wallet for everything, i.e. all debit and credit cards, store cards, the lot really.
My iphone is locked without face recognition or entering the 6 digit passcode and/or fingerprint. That's for the cards stored in Apple Wallet and all the online banking apps.
If my iphone is lost or stolen, I can buy a new phone and restore everything back onto it easily within a couple of hours and be back up and running again. If I was to carry cards and have them lost or stolen, I can cancel them via the banking apps immediately as soon as I realise and no one else can use them from that moment onwards. Banking protection rules mean even if they are used (only for contactless as pin number would be needed for anything else), my losses are limited. I can use the bank apps to change the limits of the contactless, which gives me even more control at my fingertips.
I made the big decision to move everything to Apple Wallet a few years ago. I was in Rome and got my purse pick pocketed. Not only did I lose all the cash, it also meant I had to spend several hours phoning the card companies to get the cards stopped and arrange for re-issues. A right pain in the arse as it's not just phoning to say they've been nicked. Each bank wants different information, i.e. last time I used each card, how much for, as well as having to go through security questions and all kinds of other questions. Then some told me I'd have to wait until I got back home before I had to phone them again to have the cards reissued as they wouldn't reissue whilst I was abroad, even though I was coming home in two days time and would be back home when the new cards arrived - computer says no! As I say, not only loss of cash, but a right pain the arse having to phone different banks.
Much better to leave my cards at home and just touch my iPhone against card readers etc and far more secure with fingerprints, face recognition and passcode protection.