The big banks that have taken the plunge are JPM and BAC. Not sure if both have committed on debit AND credit.. or just credit. The business case for credit is pretty solid and I don’t have any issues here, but allowing Visa to control transfers on debit is not in the best interest of banks. Why would banks want to allow Visa to develop a consumer directory and a new service that directly competes with ACH?
There is no single solution for all of this fraud, it is a constant battle and weapons just continue to improve and evolve on both sides. For banks, there are 2 common elements to all fraud strategies: educating customers, and security of customer data. In the US, consumers are quite fortunate to have the risks associated with fraud completely borne by banks (Reg E/Z). Outside of the US if you have fraud on your credit card it is your job to prove it. Hence a UK consumer is much less likely to give their card to just anyone, which is why the waiter stands at your table with a mobile card reader for you to enter your PIN.. your card is never out of your sight.