In case of a stolen credit card, it's 100% the merchant who pays (that's why they're called charge-"backs"). The only exceptions are if the transactions are indemnified by a third party partner.
All the card brands have multiple chargeback codes for fraudulent transactions, even card-present ones, so the fact that the credit card was physically present is not some kind of guarantee that the merchant would win a chargeback representment.
This is laughable, as North America has the lowest chargeback rate of all the global regions. This is just biased and ignorant anecdata.
> It is only a problem in a society with a high level of crime and little or no consequences.
If you're going to make nasty anti-American claims, you should at least back it up with real data. The facts are that chargebacks are a bigger source of fraud loss outside of North America than inside it.
> Even if people did do so they would be punished quickly.
This is not how credit card fraud works.
It does seem like there are some people here who think they know how credit cards work but actually have no idea.
Further, "Annual Ecommerce Revenue Spent to Manage Payment Fraud" was 9% in Europe, 12% in Latin America, and 15% in APAC. It was only 5% in North America.
[1]: https://merchantriskcouncil.org/resource-center/surveys/2021...