These are all too insecure in 2025. Everyone knows that phones are impenetrable fortresses which only one person can ever access, and nobody has ever been mugged into transferring money to someone else using their phone.

Those have lots of security problems too.

Stealing my wallet is generally worth less than stealing my phone even before you take into account the value of the data and the grief and expense of replacing my phone.

The fact that parking systems won't install wireless credit card readers and instead will foist the externality onto me of 1) having a phone, 2) that is currently charged, 3) has a relatively high resolution camera, and 4) capable of high bandwidth internet access is the kind of thing that ticks me off.

The divisibility of cash is fiddly and handling and counting it is not free. Both customers and businesses like switching to card.

The sweet spot is probably around contactless, but eventually more countries will get things like Vipps or WeChat pay and it will become a unified experience.