Sorry, I have to disagree on this. The US is up there with the most archaic CC transactional systems on the planet. UK / Europe implemented chip & pin cards fucking decades ago. No shit, literally in 2003. You know why? Because some minimum wage dipshit processing your card transaction in-person isn't a fucking professional signature analyst. You put your card in, it promps you for your pin code, enter it, done. No unnecessary signature slips for the merchant either.
The US in recent years had half-assed rolled out chip cards but I cannot fathom the point, as most all still spit out a signature slip and forgo the pin.
Sure, a huge portion of CC crime happens online. But why wouldn't you try and modernize all angles of CC fraud? Lost or stolen card? Guess what, no Billy numb nuts can just pick it up and go swipe it before you've realized or contacted your bank to disable it. In-person, that card still needs a pin code. It is a form of authentication that actually means something vs some scribbles on a piece of paper.
For online transactions here in the UK, if it is a new merchant you don't regularly use, the check-out page redirects you to your bank's authentication sub-page which then sends a one time passcode to your phone to authorize the transaction.
The US consumer is generally just in the dark with how the rest of the world has moved on with CC fraud prevention measures. The US banks must simply figure the cost of rolling out these systems / added "hassle" of the customer just isn't worth it. In the meantime, you can eat the stress / admin of dealing with US card fraud which basically have zero security authentication features whatsoever.
(Coming from the perspective of an American who's lived all around the world with a British wife.)
