The only option it gives me at the moment is Touch ID. I will look again but know the difference since I use it with my phone already.
Face ID is on in settings but in the app it only offers TouchID. After turning it off and on again it still says Touch on the login screen but does work with FaceID so I guess at this point its a cosmetic thing.
Yes, it is cosmetic. Face ID will work with the app if Touch ID does.
https://support.apple.com/en-us/HT208108
"Apps that support Touch ID automatically support Face ID."