Turn off passcode for lock screen but still keep Apple Pay?

Hi there, I never use passcodes on my phone, I don't like using them. I wanted to check out the Wallet feature, so I set up the passcode and touch ID and added in my debit card. In my iPhone settings for the passcode I toggled the Lock Screen "off" and kept Apple Pay "on".

I was hoping to achieve an outcome of not having to enter a passcode every time I unlock my phone, and only have to enter a passcode when I use Apple Pay. However, it is still prompting me for a passcode when I try to unlock my phone.

Is there any way around this?

Thanks!