Except that it doesn’t always work. Many websites don’t ask for it. With my card number someone was able to book plane tickets from Bangladesh to Canada (not sure if they had the security code). I eventually got the money back. At least now they do 2FA via sms for large purchases.
Discussion
Def. I was being 'tongue in cheek' that they were a genius. Prob being a bit harsh cos it was likely invented ages ago. Yes, 2fa marginally better. But the principle of what know, what you have and what you are could have been implemented surely 20 years ago. But we keep on with the crazy antiquated systems!!