Originally Posted by
TheFerret
Considering most of the world has migrated to chip cards a few years ago and the US is sluggishly getting to that point, I can see where people say the US has no will to combat credit card fraud.
In the US, the consumer was not responsible for use of a stolen card beyond $50 max (most CC companies waived even that). With chip & pin, if we ever get there, that changes; the burden is on the consumer to prove fraud, since there's a presumption that use of the PIN proves it was the card's owner. So instead we end up with chip & signature, with no change at the consumer end but at the merchant side, if we swipe a card that has a chip, and it's fraudulent, we (the merchant) eat it.
Those are HUGE changes and have tied up technology advances. If anything changes from the status quo, there's a realignment based on the current strength of each party involved. Congress even gets involved. So yes, change happens very slowly in the US regarding CCs.