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Why does China Merchants Bank’s credit card no longer require a password when swiping the card?

(China Merchants Bank) Credit cards can be set to require password verification when swiping the card. If the "card swiping password verification function" is enabled, you will need to enter the transaction password to complete the transaction when swiping the card. If you do not activate or turn off the "card swiping password verification function", you do not need to enter a password when swiping the card, just press the "Confirm" button to complete the transaction. Swipe your card through VISA, MASTER, and JCB lines, and there is no card verification function.