Dead wrong. Its still a big problem in the US.
https://www.kansascityfed.org/research/payments-system-resea...
> In 2023, 21 percent of U.S. consumers experienced financial fraud: 17 percent of all consumers (or 18 percent of consumers who own credit cards) experienced credit card fraud, and 8 percent of all consumers experienced non-credit card fraud (with some consumers experiencing both types of fraud).
Sure, we've now moved to do tap to pay and chipped cards for a lot of transactions. However, this is useless for online orders which just requires knowledge of the magic numbers which all are helpfully printed on the face of the card you hand to people, tell over the phone, or type into websites.
We need to move towards actually secure online payment systems.
Waiter presents me the machine, I insert my card or wave it over the NFC reader of the machine, if I insert the card, machine always ask for pin, if I use NFC, it will ask sometimes based on some obscure criteria.
For really expensive transactions, eventually, I may get a notification on my bank app in the phone, asking me if I am really, really doing this, I authenticate with biometrics and click ok.
it is not that hard.
Lots of restaurants and bars have been slow to adopt new systems. While many have moved towards waiters having portable machines and can process the payments table-side, probably half the restaurants and bars I go to expect the waiter/bartender to handle the card.
Few banks/merchants actually require a PIN for transactions most of the time. I couldn't even tell you what the PIN is on most of my credit cards, its never come up on a lot of them even with $1,000+ purchases.
So add another layer of duopoly and middlemen to the way I pay for things. No thanks!
What happens when Google permabans me because I failed to pay a $0.50 cloud bill a few months ago and I got forever locked out of my iCloud account? Guess I can't buy anything online again ever.
Don't get me wrong I've used these for payment processing before, but I'd really prefer some kind of more standardized way of doing payments directly instead of adding yet another middleman. I already have a secure token device with me (the credit card), I should just be able to pay directly with it through the website.
