What's the benefit for me, as a consumer? I've gotta remember and enter a PIN all over the place. If there is a compromise, I've gotta now prove it wasn't me to a much higher level.

Whereas in the current US system, I rely on my bank/Visa to figure out fraud detection and sort things out. If there's ever a problem, I dispute it and move on with life. Now and then, I have to get another card. That's a hassle, sure.

If I was responsible for the fraud, then sure, I'd want all sorts of security. But I'm not. Same logic used by my bank: My credit card gets blocked every couple of months (I'm always traveling). My debit card, which requires me to take more responsibility, has never been blocked by the bank.