> 1. iOS does not verify the actual transaction value, it just verifies that a flag is set indicating it’s a low value transaction. (Eg for express transit where no faceID is required.) Apple says the root cause is credit card companies, but they could clearly fix this.

The video explains why this is the credit card company responsible for this. The value of a low vs high value transaction changes depending on local currency, credit card company risk profile, etc. It’s not unified at all, even within the same country. And values change over time, so having to reissue cards to change it would be impractical.