I think you've identified why in your response. If you're buying something from a website then it's not an issue. If you're buying something in person relying

I think you've identified why in your response. If you're buying something from a website then it's not an issue. If you're buying something in person relying on an app or other otp will result in fewer people wanting to bother with it or more false negatives both of which reduce transactions (and fees) by more than the cost of the fraud on the card issuer.