Paywave/Paypass is about convenience, rather than security. It is less secure than chip and pin. Fraud was a lower risk to credit card companies in America bec

Paywave/Paypass is about convenience, rather than security. It is less secure than chip and pin. Fraud was a lower risk to credit card companies in America because [1] they were better at detecting and preventing fraudulent transactions, and were better at passing on the costs of fraud to retailers and consumers. [1] http://www.economist.com/blogs/economist-explains/2014/10/economist-explains-18 http://www.economist.com/blogs/economist-explains/2014/10/ec...