>But don’t they do this because they can Protect the consumers card data better than anyone.

Compared to what? If there is a fraudulent charge on your credit card, issue a chargeback. If I had two options: 1) Once every couple of years I may get a credit card's details stolen and I have to spend perhaps an hour on the phone with the bank to get thing sorted out, 2) the credit card issuer gives me a card with some futuristic technology that makes fraud literally impossible; so I don't have to spend that one hour every couple of years sorting out a fraudulent transaction; however, the credit card adds a 30% surcharge to every transaction—I would choose option 1, no questions. Wouldn't you?