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I still cannot understand why a highly effective technology, proven to defeat POS fraud, should take so long to be implemented in North America. If it can be rolled out so quickly in multilingual Europe, why the foot dragging over here?
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Because of the great cost associated with swapping out all the credit terminals in every retailer all across Canada. There are literally millions of terminals out there. Because of the penetration of Interac, all the terminals are 'injected' with digital keys to prevent the theft of PINs. Replacing them all is a PITA. And that's just the standalone machines... The ones hooked directly to cash registers (at, for example, supermarkets) is a whole other can of worms.

The banks don't want to pay the expense, nor do the merchants.

Bottom line is it will happen, but slowly.