Upfront costs are probaby similar, however, the ongoing cost of assigning administrative staff to replace/invalidate lost cards is significant. An hour per day? Probably reasonable. Is £2k+ per year. Thumbprint looks cheaper now.
Lunches are typically under £2 for a set meal. Making that free is £500k per year. Schools have fixed budgets. What should schools cut? 5 experienced teachers? The entire music department?
Not all sutdents buy a full lunch (some bring sandwiches, just buy a little, or are absent), so a flat rate would be seen a retrograde step.