> Banks with better security can offer cheaper services to merchants Yeah, like we know that will ever happen. > economics Then let the banks allow people to

> Banks with better security can offer cheaper services to merchants Yeah, like we know that will ever happen. > economics Then let the banks allow people to chose what type of card they want, allow merchants to charge different price based on the type of card, allow merchants to implement paying before scanning, etc. Basically, allow the economy to work. The system works the way it works (in any country) because of fixed regulations. There's no economy. Neither consumers not merchants have any say in how anything works. > Oh, and in the US you have to wait and sign a piece of paper, eating into your precious time. Usually you "sign" on some electronic POS, but this time is comparable to the time spent entering the PIN, still much less than the extra time required to wait for the chip transaction to go through at the end of shopping session.