If your fraud rate is 2% and turning on OTP adds 4% to your bounce rate then turning on OTP is net negative.
Classic collective action problem. I'd guess the feds will mandate it at some point in the future, like how it took a decade for EMV to be mandatory in the US.
Classic collective action problem. I'd guess the feds will mandate it at some point in the future, like how it took a decade for EMV to be mandatory in the US.