[BlackFly]

I'm a bit confused as to what you mean.

Physical merchants eliminate liability for fraud and get reduced interchange fees by accepting chip.

Web merchants get reduced fees by using 3D secure (and the other scheme's versions). It is the issuing banks decision whether the 3D secure uses a chip or not, not the decision of the merchant. Many banks use sms push, RSA tokens, OTP sent in an envelope, or just passwords.