Why can't companies like Visa, Mater Card, etc give ID Password facility for easy pay online?
They already do. You can pay with a username and password, just like PayPal, or Amazon Pay, etc.
Visa Checkout: https://usa.visa.com/pay-with-visa/visa-checkout.html
Masterpass: https://masterpass.com/en-us/
AMEX Express Checkout: https://www.americanexpress.com/us/content/express-checkout/
It's up to merchants to accept and integrate them in their shopping carts.
But ID and password are not necessarily 'better' by many important metrics including ease of use and security, eg is entering such info into a PoS terminal, or your phone near one, easy and safe? At your desk is less of a challenge.
Now, the same debit card (if international) would not require a pin/otp in case of transaction happening on a US payment gateway. Now, it really depends how banks (or the country) handles the credit/debit card transactions.
Here's a good read on why US has the least secure cards: https://www.theatlantic.com/business/archive/2016/03/us-dete...
In fact, I would say it is too easy to automate this process, and there should be a standard way of requiring the user to perform some sort of interaction that can’t be automated away. Of course, the user should be able to choose when this functionality is required, like for all purchases over a certain amount or something.