On: Ask HN: Do we need to pay billions in fees to Stri...

[konschubert]

In the US you can take money from a credit card by just using the that’s plainly written on it. That’s not what I would call making an effort at origination fraud prevention.

[crazygringo → konschubert]

Believe it or not, they make a huge effort at fraud prevention. Because it takes away from their profits.

However there are both historical and convenience reasons at play here. It was a big transition to move to chips, for example.

So your assertion that they're not making an effort at fraud prevention is just completely untrue.

[lmz → konschubert]

Hell, you can take money from a bank account by just using what's written on a cheque...