You are correct. Just to be clear though you don’t need to manually open the wallet app, select whatever card do you want and then double click the side button. By double clicking the side button it doesn’t open the wallet app, but it does show your cards. You can select from your cards and then just tap to pay. I’m only saying this because I had a friend that would open the wallet app every time then double click. He didn’t know that the extra step was not necessary.