It's coming.

It has been resisted by retail due to retrofit cost.

After the Target fiasco last year the majors, Visa/Master Card/Amex all said screw you guys, we are tired of eating the cost of you not implementing it so here's the deal, get it done or we stop doing business with you.

About a year ago had my card info stolen, pretty sure it was done at a gas station. I had alerts sent to me when ever that card # was used before the number got stolen so was able to stop it pretty quick.

Ok.. ALL CLEAR. Turns out, it was a processing error from a supplier... turns out, they also run a GPS tracking service, and somehow a client's bill was paid using my information.

All taken care of. Card not compromised.

I had just got back from filing a police report, called the company to give them the report info.... when my service guy heard my name, he figured out what was going on and told me what happened...

On the suck-side, I've already cancelled that card and they're issuing a new one. 7-10 days... ugh. :confused:

Its definitely not infallible, but the UK cards association have previously said that card fraud had fallen by between 58% (lost and stolen cards) and 91% (mail non receipt fraud).
However the last couple of years has again seen an upward trend in card fraud as the criminals have got a grip of the technology.