You have a point about cashless transactions, though I'm not sure if the argument about the word "authorization" stands. At least I always understood it that I authenticate myself to the bank, and then I authorize the bank to transfer my funds to someone else...
In an ideal scenario that's the case, however the bank isn't solely answerable to you. There are situations such as being investigated by the police where access to any money in your bank account can be suspended, and they will no longer authorise you to make use of it.
