Unfortunately, we may be stuck with that for a while -- because US banks largely chose to switch to Chip & Signature, instead of Chip & PIN.
In Europe and Brazil, I found that Chip & PIN is widely deployed, and as a result they perform all transactions with a portable terminal. They bring it right to your table, you insert your card, enter the tip (if appropriate), enter your PIN, and they print the receipt for you. Your card is always in your possession.
Some US banks are adding PINs to their cards, but it is a lower priority for authentication, behind signature. Only unattended terminals that cannot process a signature should ask for the PIN.
It will be interesting to see how US restaurants handle European visitors that have a chipped card that asked for PIN authentication as first priority. I guess they will have to go to the register and check out there.
Chip & Signature terminals all support Chip & PIN, because they are the same machines!
I used a Chip & PIN card at Walmart and the terminal prompted for my PIN, while I used a BofA C&S card and the same terminal asked for a signature. The card CVM decides what to ask for, not the terminal itself.
Verifone & Ingenico make up about 80% of the Chip & PIN terminal market, the very same companies you see selling terminals in the United States.
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Sit down restaurants will rest on their laurels for a while, but quick service and fast food will have EMV and NFC up more than likely. Chili's and Red Robin both have table side terminals. The cost of fraud may be low however, if they get hacked, now they have to pay for ALL OF IT.I think sit-down restaurants actually won't actually adopt EMV all that quickly. Most of them will probably just take the risk since it's a fairly low risk industry from a card perspective anyway. There will also likely be signature only terminals built for the restaurant industry, like how Square's rumored chip reader won't support PIN.
McD's, Rubios, Wing Stop, Panera all come to mind in this regard. They have both NFC and Chip & PIN combination terminals. Same goes for all of the other "Apple Pay" enabled restaurants
I'm curious as to what the Square reader will do when I present a PIN priority card, however most C&P cards have signature as a 2nd CVM
Places just need to enable PayPass for NFC and Apple Pay- thankfully according to my Merchant Service provider, Wells Fargo, that very same Chip card enabling software will enable PayPass for Apple Pay as well!
Expect to see more Apple Pay in the next 6 months as a LOT of mom & pop stores go through Wells Fargo for merchant service processing.
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