I have no interest however, in further increasing the amount of online shopping accounts I maintain, because that means I have to keep tabs on the shenanigans of even more, highly technically incompetent, companies to know if I've been compromised.
Whether or not they could theoretically provide a more secure service has no bearing on the monopoly argument because the moment that we accept companies completely destroying fundamental tenets of capitalism (i.e. not controlling a market) because they can do it better is the moment that capitalism truly begins to die. Amazon shouldn't have the power to control the ecommerce market regardless of their security, and the fact that there are people out there willing to make this trade-off kinda scares me.
It's also not that hard to replace a credit card since the industry has been regulated to cooperate with consumers on fraudulent claims. As another user mentioned, password managers help here too.
0: https://krebsonsecurity.com/2019/03/facebook-stored-hundreds...
But why not just assume that your data has already been compromised? It has.
What could you even do with that information? How do you respond when you find out that your data has been leaked?
Additionally, I don't understand why companies continue to roll their own payment processing rather than paying a service that knows how to do it. I guess it seems easy...
Fully outsourced payment solutions are a good fit for some business models but not for others.
One thing I would add is that PCI DSS is also applicable for ISO's as well VAR's which operate payment processing gateways.
There are various "financial hammers" these types of breaches will induce, depending on the network (Visa, MasterCard, etc.). Plus, processors (the banks) will put the liability onto Merchants which are shown to have violated thier ToS. Storing PAN's in clear text (or at all in some cases) is certain to trigger one or both of these ramifications.