It seems this is difficult for the big credit card companies and banks (which is why it hasn't happened), but I wonder if it might be easier for Stripe to incorporate something like this into their Issuing product.
Modern banks (N26, Revolut, Monzo, etc.) will send you a notification through their app and then you use the fingerprint sensor on your phone or a passcode to approve the transaction. With ATMs they will check your location and block any ATM transaction that is not near to you, or in a different country. The limits are very customisable and you can do it on the fly.
Most of the time you just have to open your bank app on your phone and hit confirm. You can lock the card when you're not using it and unlock it when you do, so no need to wait for a replacement or call support; meaning that if you lost your card you can go into the app and lock it straight away, just in case you find it again or it's returned.
It integrates with 3D Secure in a lot of places so you can still press your finger on your phone to approve.
It's a much more pro-active approach to bank fraud than what you get when you can't let go of the legacy system.
By bank implements it as approving from my phone's mobile app via push notification. It's really slick. Here's what happened when I bought something from PSN https://imgur.com/a/iZgY74b
came back home. no issues.
bought $12 from a merchant in sweden - a merchant I'd purchased the exact service from multiple times before - entire account locked for 'fraudulent activity'. Checks bounced, payments blocked, etc. Annoying as shit. Took a couple days to sort out (happened on a friday afternoon, of course). They refunded all charges, but... damn. I think things are better now (this was... 2014 IIRC).