The main decision banks have made about payment fraud is "make it the consumer's problem". This is the actual purpose of 3d-secure and contactless payments - i

The main decision banks have made about payment fraud is "make it the consumer's problem". This is the actual purpose of 3d-secure and contactless payments - if you take the time to read the small print, or if you work on the merchant/retailer side of things, you'll know/find that in both cases liability for fraud is shifted to the consumer for the majority of cases, as by giving you the "secure token" (i.e. a cookie or a card) the only possible reason for any fraud in their reasoning is your own negligence.