I think it will simply become impossible to keep digital payment systems secure. The whole online economy will collapse. Amazon will become worthless. People will actually have to go out to local stores to buy everything. People will have to go to their local bank or currency exchange to cash their paychecks. The credit card system will fail completely too, while payday loans will take their place. The stock market will have to go back to traders yelling their trades to each other at exchanges. The old ways will become new.
Because cheques are known for their security /s
Just get serous about internet connected payments. We can make things plenty secure it’s just that all the companies that implement it aren’t serious, such as not checking the card expiration date when tap to pay is used.