My experience has been that all the banks that gave me cards were diligent in verifying suspicious transactions, often erring on the side of caution and asking for confirmation. Also, they don’t tend to argue much before refunding an illegal transaction.

So, from my point of view, it could certainly be improved (along the lines of what Apple Pay is doing with tokenisation: confidentiality is an issue), but there is no real reason to complain.

As long as fraudulent transactions are rare enough that the banks don’t drag their feet, it’s fine.