samhradh wrote:You can use the EMV chip cards in Europe where they do chip & pin. AFAI c&s = c&p it's just that here we still sign as opposed to use the pin.
No. Chip & signature is not the same as chip & pin. with c&s, the merchant is supposed to verify the signature, same as now. C&P requires a pin; no pin, no transaction. C&P isn't likely to become terribly common in the US, consumers won't like it, and we don't pay fraud costs. EMV cards are rather harder (not impossible, and it'll get easier and cheaper) to copy than mag stripe cards are, so it'll reduce card present fraud. Won't do much about mail and internet fraud, though.
When you put an EMV equipped card into an EMV reader, the card and the reader negotiate on what protocol to use. Cards can be C&S only, C&P only, C&S w/ C&P as a fall back, or C&P w/ C&S as a fallback. Readers are the same way. there can be additional rules in effect, like "Is the transaction over $X", "Have we done Y transactions since we've forced a pin?", "is it tuesday?", and quite a lot more.
Expect most US readers to do C&S by default, but take C&P if the card wants to insist. Expect most US cards to be C&S only, with some cards aimed at travelers C&S prefered with C&P available where it's required. (C&S cards are currently a lot cheaper than C&P enabled cards. That will change, but we can hope something better and faster comes along quickly.)