Personally I think the banks should be paying for the bulk of this fraud out of the 2-3% transaction fees, not merchants who may not have anything to do with the problem. This way, there's strong incentive to actually issue secure cards and improve security. Right now, it's no skin off their backs, so nothing is improving.
You're seriously overestimating the fraud protection Stripe does.
And tomorrow, when the problem gets worse and the fees start to climb, will you still not care?
Why be content with a system that may indirectly charge you for other people's lack of security?
Why not look for ways to focus the cost on the vendors who lack security?
In the end, they hold an unfair power over those who they can extort. I wish we had much better consumer laws - to actually protect us.
We have excellent consumers laws in this particular regard. If only consumers fought for their rights instead of paying the mafia!
> Hire a lawyer for $400/hour?
You don't need a lawyer for small claims court.
They are who fined Wells Fargo.
On the other hand, Paypal itself is a liability. Blocking your account (and your money!) for months without recourse, randomly reducing expense limits to nothing (50 EUR) are not just some Internet stories, but things that have happened to me personally multiple times.
When my card was stolen (debit card even!), I didn't lose a dime, nor time. Bank just sent me a new card the same day. I didn't even have to report the fraud, they detected it themselves, as they are really good at that. They just called me to tell me about it, and that they sent me a new card.