there’s probably very little fraud with touchless payments like Apple Pay - most issuers require some verification to add the card to a phone in the first place. if that becomes a growing % of in person payments i don’t see the justification for high card present rates.

also some data suggests people have moved to more debit transactions during Covid over credit which are cheaper to process anyway and usually means less fraud - so maintaining a fixed processing rate means margins for processors are probably even better right now