Yes. Physical cards are probably going away or becoming unusual in the medium term. A "credit card" or "debit card" will still exist, but not usually as a physical piece of plastic.

Instead of tapping or swiping the card, you tap the phone or watch, or scan a QR on your phone and then confirm in the bank app. Both ways seem to have similar useability to me, and an equivalent result. I've done both in different countries, and neither really bothered me. Yes, the tap method has higher potential for petty theft.