rockyrock wrote:You are correct on all counts.
The US financial industry probably just figures the rest of the world will change to a less secure method to be like us. You know kind of like the rest of the world adopted "standard" measurements instead of metric...
EMV allows for cards that work with both chip and pin and chip and signature modes. The card and the terminal negotiate what to use (including nothing at all, as in contact-less payments). There's no reason that us card issuers can't issue cards that are C&S preferred, but when confronted with a C&P only terminal, let you use a pin. They're not (well, a few CU do) because it currently costs more. That will change if there's demand for it. Most American credit cards are never used outside the US, so there's little reason for most people to have such a card.
It would not surprise me to see debit cards be the first widely issued cards that do C&P in the US, because people are already used to using a pin with them.
Also, don't forget that in most of the rest of the world, if someone steals your credit card information and commits fraud, the onus is on you to prove that it's fraud. If you can't, you're out the money. That makes inconvenient security more attractive. In the US, where it's the bank on the hook, no one is willing to put up with that.