[satx]

smartcards are a decade old? Try 3+ decades.

Cost of US infrastructure too high to change?

Banks pocket, depend heavily on $30B/year on bank account overdrafts alone, and have supported smartcards in Europe and around the planet for 30+ years.

Retailers prefer to be cracked (Target, etc) rather than protect themselves with better equipment and serious IT defenses.

Typical financial (payment) services: sh!tt!est possible product for lowest possible investment.