I now have 11 apps installed on my iPhone just for the purpose of authentication with ebanking systems, authorizing credit card and debit card transations and scanning payment slips, since every bank and credit card provider runs their own apps. Each has to be registered in their system and often includes the Hardware ID of the device.
Then there is Apple Pay. Having credit cards registered with Apple Pay means you have to run through some (provider-specific) process for every card + for every iDevice, sometimes with personal authentication on the phone, chat or text messages.
Replacing phones (which I did two weeks ago) becomes very difficult. It involves hours of work and phone calls with support call centers.
I think that is not how it was supposed to be. Technology should make life easier, not endlessly more complex.