We always come up with the same questions but no answers......let us assume for a second that chip and pin is not inherently less susceptible to fraud (I don't agree but okay). Let us assume something better will become available in 10 years. Where Gary has no answer remains what I said a couple of days ago.
What does Gary want to tell those of us who travel today, not 5 years from now, who are increasingly finding it difficult to carry out routine transactions with the non chip American credit cards? His solution seems to be, use cash. I find that overwhelmingly inconvenient and not a good way to travel in the 21st century. Using a credit card sometimes gives me an advantage say in a dispute over shoddy merchandise or unreceived services. The issuance of chip and pin cards does not mean the entire payment system has to be changed.
As I've said, at least for the time being, chip and pin is the norm throughout most of the civilized and even uncivilized world, well at least chip. The problem is only growing worse by the day. A minor inconvenience today. A year from now a major inconvenience and perhaps while Rome burns, the banks fiddle and before we know it, Americans won't be able to use their credit cards anywhere in Europe, Japan, Canada. Is that you want? Is that what visa/mc want?
The issuance of chip and pin cards will not delay the development of more secure payment systems. Why do we continue to argue this?