It is a bit baffling how the US is so far behind on basically everything when it comes to money, banking and payments. I'm not sure many American's even realise how god awful their setup is.
Your banks are robbing you, and no one seems to care.
not that it makes a difference - us law puts the liability on banks. Chip and pin is needed in backwards places where a stolen credit card is the consumers problem. It adds no security to the individual in the us. When banks decided to care chips got rolled out. They don't think pin is useful enough to be worth the hasstle so we don't have the.
The issue is that the US banking system is highly fragmented, making universal change difficult. Most other countries have fewer, larger banks (which does introduce other problems that regulation has to be active with), but it means that they can gather together and agree on standards far quicker. Most other countries also have more active regulation pushing universal standards than the US historically did.
Actually I think they do care. That's why they are still using paper checks, because those are processed for free :)
The vast majority of average americans don't leave the town/city/area they grew up in. They have NO CLUE what the world is like, other than what they glean from hollywood, and "American exceptionalism" is an absurdly effective propaganda campaign.
Our banking ecosystem is extremely fragmented with thousands of small banks and credit unions, we aren't like Canada where the 5 largest banks control nearly the entire market and can change things relatively quickly.
It is possible in the US. But somehow it's not happening.
Illegal since 1 January, which is why they stopped. Hence why I'm saying it's free.
As for not all banks supporting it, if I'm not mistaken it will be mandatory by the end of the year, and the majority already do.