This is why the developers of this of this smartwatch app do really see a problem when it comes to interest because most people arent preferring on using up watches so it would be better if they would switch up if they do really
like to get some attention.
The problem does exist but it's not a big or critical problem, the alternative is easy to find and most users are fine with that. Sure, some might think that using smartwatch is more convenient but that doesn't mean they'd not be happy if they can use their phone to do the same thing. After all, almost everybody has a smartphone now while not all of them has a smartwatch.
Rather than seeing a wallet app on their smartwatch, I believe users would love to see a calling feature where they can accept and make a call via their smartwatch, like a handsfree device (don't know if it already existed).