The problem with these is always who pays for fraud.

With credit cards, they actually claw that money back from the merchant, and then if the merchant can't pay they just eat it themselves.

So the merchant has to work in fraud rates into their pricing, and the credit card company has to work in fraud rates that the merchant can't cover into their rates.

It always seemed toxic it to me that the merchants are the one's responsible, despite the fact that they easily have the least power to do anything about it. But the ease of payment processing, and the number of people who just won't buy it if they can't use a card, outweighs dealing with fraud I guess.