Comment by lotsofpulp
9 hours ago
It's a non existent problem in the US, too. The internet likes to blow things out of proportion, but not only are pretty much all payments made with tap to pay for many years now, even when it was magnetic strip, the incidence rate was miniscule.
> It's a non existent problem in the US
Dead wrong. Its still a big problem in the US.
https://www.kansascityfed.org/research/payments-system-resea...
> In 2023, 21 percent of U.S. consumers experienced financial fraud: 17 percent of all consumers (or 18 percent of consumers who own credit cards) experienced credit card fraud, and 8 percent of all consumers experienced non-credit card fraud (with some consumers experiencing both types of fraud).
Sure, we've now moved to do tap to pay and chipped cards for a lot of transactions. However, this is useless for online orders which just requires knowledge of the magic numbers which all are helpfully printed on the face of the card you hand to people, tell over the phone, or type into websites.
We need to move towards actually secure online payment systems.