To prevent confusion:
This is how a smartchip card looks like:
http://en.wikipedia.org/wiki/File:Smartcard2.png
The chip looks like the one present in sim cards, and may be of a different color than gold. I have a card where it is silver colored.
I found an aticle that address the thread's issue. Do take a look if you have access. I found it in EBSCO, but it may be in other databases as well.
Title: EMV Format May Gain a Foothold In U.S. Market.
Authors: Rueter, Thad1
Source: American Banker; 5/8/2009, Vol. 174 Issue 88, p10-10, 2/5p
Abstract:
This article reports that U.S. credit card companies are considering offering products in compliance with the Europay, Mastercard, Visa (EMV) Integrated Circuit Card Specifications security standard, for the benefit of international travelers. It is noted that some foreign businesses will only accept EMV cards, which have embedded chips, and will refuse the magnetic-stripe cards commonly used by Americans.
ISSN: 0002-7561
Accession Number: 39260174
Originally Posted by Jack Jania, a vice president with the Dutch card maker Gemalto NV and its general manager for secure transactions
"Two or three years ago you could not have EMV discussions with issuers" in the United States, Jania said. "That has changed. Dialogue is taking place at a serious level now."
Distributing such cards to people who travel often to Europe would help issuers maintain a "top-of-wallet" position with their customers, he said.
I think this is the main motivation US issuers would have to issue EMV cards. So, we might see some with EMV chips, 2% forex fees and no rewards soon.
Trouble is, I'll probably stick with my no forex fee cards
with rewards, at least until these cards reach some kind of parity with existing good travel cards.
Security experts say that the lack of EMV in the United States could attract criminals who have found it harder to pull off scams in countries where the format is already commonplace.
...
Guy Berg, the president of Collis America, pointed out another possible source of momentum for the EMV format in the United States: the growing acceptance of contactless payment cards, which use the same chips as EMV cards.
If contactless cards, which use near-field communication technology, become more common in the United States, they could help boost the case for the security standard, Berg said, because "NFC in the U.S. probably will be an EMV application."
As a first step, he said, the United States could embrace a "partial" EMV format - a version of the standard that reduces the back-end support needed to authenticate transactions at payment terminals.
Terminal vendors, who must sell their equipment throughout the world, could easily install EMV applications in their products, Berg said. "Basically, the terminal industry is ready to go."
None of the executives at the conference would offer a timetable on when U.S. issuers would move forward.
...
The article also reported that Canada is expected to completely shift to EMV in the next few years. If fraud picks up here due to Mexico and Canada, it might reduce the disincentive to switch. Issuers here might also leapfrog the chip and directly use the RFID cards. I know my Freedom and SPG amx has the feature.