"if there's any fraud the merchant eats all of it!" - not 100% true- see "fraud Liability Shift topics" Your card Issuer gets it if it's an EMV (ie chip was d

"if there's any fraud the merchant eats all of it!" - not 100% true- see "fraud Liability Shift topics" Your card Issuer gets it if it's an EMV (ie chip was dipped) card-present transaction, merchant gets the liability if it was online or over the phone-Exception being if 3DS is used. Fraud is ultimately payed for either by your bank or by the merchant.