> And there could always be a card that does 2fa for every transaction in exchange for lower fees, that would have to lower the chance of fraud to near 0.

Two questions here:

1) I could be wrong here but isn't that what the Chip and Pin combo is supposed to be? At least in the US I swear I remember the reason why a ton of businesses moved from swipe and signature to chip and pin was that they would get charged a lower fee.

2) Could someone explain to me why (at least in the US) debit cards are universally require some sort of 2FA but credit cards don't?