Originally Posted by
fifty_two
for the same reason you have a key to enter home or a password on your bank website and it is not an issue for you cause you always accepted this fact and never complained about it
Without going through the whole history of this market , in the US its more about credit cards , than in europe and the rest of the world , where debit card are mostly the norm , where the funds are debited immediately
The situation in the US is due to history (all this was designed long before internet) and unwillingness of the entire industry (including banks , online merchants , payments processors) to invest into (and enforce) authentication mechanisms using "consumer experience" as a justification for such while raising fees without any issues
A failed transaction due to multi factor authentication is a money loss than nobody wants = merchants, banks , processors etc ..... so thats one of the reasons why scammers love US
Also merchant fees are much higher in US than in EU. There is no free lunch - somebody is paying for this - in this case this 'somebody" are merchants. I recall earlier ghis year there was a project to limit merchant fees in the US - but I do not think it even reached Congres.