None of these comments seem relevant to TFA, which is specifically about card-not-present fraud. Chip and PIN doesn't work for internet payment. Bank transfer

None of these comments seem relevant to TFA, which is specifically about card-not-present fraud. Chip and PIN doesn't work for internet payment. Bank transfers don't work well internationally. It is trivial to turn on AVS (address verification) and CVV, but it can result in more declined-yet-legitimate transactions. Sometimes that outweighs the fraud risk that these catch. The responsibility for fraud is pushed to the merchant, not the customer. Yes, customers pay higher prices because merchant fraud gets passed on eventually, but only in the sense that all fraud costs get passed on to consumers eventually.