I have a Huawei and it won't let me put my credit card on it so I can't use my phone.if you protect it with a 6digit PIN or a thumbprint or Face ID in theory it’s safer than your bank card even if stolen. Hard to rationalise for most people because it’s such a new thing in effect. Similar to the reluctance when cards became a thing and ATMs all those years ago
Also, and trying not to be all conspiracy theorist about it, am I 100% convinced that the Chinese can't read into my phone?