> When the system was created we didn't have the same ability to authenticate cardholders that we do today The problem is that for any of the new security feat

> When the system was created we didn't have the same ability to authenticate cardholders that we do today The problem is that for any of the new security features of cards to drive any of those kinds of changes the old mag-strip style of card authentication has to be deprecated and removed - which is likely not going to happen in the next 20 years. Visa and Mastercard (and the layers between them and the merchant) have tried pretty hard to apply financial pressure (extra fees) to promote chip-only transactions and it still hasn't stopped mag-stripe from reigning supreme. We're basically in an IPv4 and IPv6 situation in the payment industry =/