It’s much easier to steal cash than to force someone to unlock a device and make a payment, so yes it is more secure.
and with biometics, its not hard at all, you just force their finger onto the scanner/hold their camera infront of their face.. and hell they probably dont even have to be alive to do it, and you've got full access to do everything on their phone. instead of stealing 5 bucks out of their wallet, you've now got access to any and all banking shit on their phone.