Another reason that the article doesn't touch on: there is so much extra money sloshing around in the US system due to high interchange fees that fraud pales in

Another reason that the article doesn't touch on: there is so much extra money sloshing around in the US system due to high interchange fees that fraud pales in comparison. I don't see how you can ignore this as a disencentive to change. IIRC, fraudulent charges account for ~40 bp of total transaction volume, very little of which is the responsibility of the issuing institution. Interchange fees are ~200 bp of total transaction volume.