You obviously have never had a contactless card stolen as absolutely none of what you have said is true, well except the opt out thing. You report your card stolen then pay pass will not work ( unless the merchant your using is "offline" which no merchant I know is. Burden of proof is actually on the bank not the holder and the banks are always more than happy to help. How do I know.....I live in Australia and have had my card stolen 2 times in 2 years and apart from a couple of days delay in getting a new card, there is no issue at all. Over here its actually reducing fraud as people dont see you use your pin number.