Earlier quoted context omitted.
People seem to forget why credit cards came into existence. It was not for security. Ever. Credit Cards were introduced as a less-secure-but-more-convenient-check. The store then would have a stock of "blank checks" with absolutely no security features where they would imprint with carbon paper and a pressure roll the credit card information and pretty much "mint" the client a check on the spot. Over time the raised…
Even more fun fact: we rely on mag stripes (vs. chip n pin / nfc / etc) because of gas pumps. The cost of refitting gas pumps holds us back. Yay.
Liability shift works like this: Historically the merchant is protected if they had good faith belief that the payment card was authorised via things like a mag stripe. After liability shift that goes away unless you use EMV. You checked the card was "real" with just a mag stripe? Not interested, the chargeback comes out of your money.
Your local gas station can keep using mag stripe readers for another decade if they like. But liability shift means places that see significant fraud will have an obvious economic incentive to go EMV, and that shifts the fraud onto nearby stations that didn't have fraud problems, so they go EMV and so on.
If you're a merchant with very low fraud rates it can make sense to do no Authorization step whatsoever. Any merchant, anywhere in the world, can do Settlement, which is the step that moves money from your account to theirs, based just on the card number. Only if it becomes a question as to whether this payment was authorized does it matter whether they did the Authorization step, a mag stripe read, the old fashioned impression machines, or a chip-and-PIN terminal.
Certain types of companies can find it makes sense to do no Authorization for groups of customers. One Click may be an example of that. You did a bunch of transactions, with a physical delivery address, what are the chances that a new transaction with the same delivery address and card details is fraud while the previous ones were not?