Comment by poet

The existence of a technical solution to a security problem doesn't mean that it gets implemented in practice. Sure the security issues are theoretically solvable, but that means nothing when you're talking about a system with hundrads of millions of users. Aside from issues of magnitude, the financial incentives are all wrong if the goal is to have credit card companies implement the security solutions we would like. Currently financial instituions implement whatever security solution is financially optimal, taking into account the cost of a breach (reputation, customer satisfaction, impact of future sales, etc) and the cost of implementing the security measures. If you want something more than what the credit card companies are already doing, you need to lobby for increased regulation or financial incentives in terms of fines.