I can see the experience benefit but what you described, there is a HUGE problem: if anyone steals your phone then they too can just place it there and tap on i

I can see the experience benefit but what you described, there is a HUGE problem: if anyone steals your phone then they too can just place it there and tap on it. I doubt everyone locks their phone and there is nothing verifying that it is actually the real owner tapping. That's exactly why CCs and ATMs require you to have your card AND a PIN or at least require a signature.