Well, installed the new beta and Apple Pay is working again.
Exact same thing happened last year. Around the late Beta’s it started working.
Nothing strange about my config, no apps installed apart from default.
OS5 - Apple Pay works
OS6 Beta 3 - Apple Pay stops working. Either see watch app or Apple is updating cards message. Reboot, same issue.
Beta 4 - same
Beta 5 - working again
Nothing has changed. I did nothing and it worked again once updated. I reported as a bug a few days ago.
It’s a beta and obviously a bug.