That was a ballsy move, but what I might have done in your situation. I used to carry a spare wallet, that had a bunch of old cards and stuff in it, with a few bucks. I figured I could show them the money and hand it over, and not give up my license and active cards (and the credit cards I use for recurring transactions stay in the safe at home, so they can't be stolen or skimmed and force me to go change my number with all my recurring vendors).
For the past 20 years I'm usually carrying a firearm, but if the bad guy has already got the bead on me then I don't have time to get mine out without getting shot first, so then they'd get my watch and wallet and it's my fault for not paying enough attention to avoid someone beating me to the draw anyway.
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