I don't think it is a question of foreign banks "upgrading" so much as having taken a different route. And I am not sure of the different sides of the safety dabate and practicality of each type of card. For what it's worth, I prefer Chip and PIN too but that is not what my bank issued me with.

AMS is a very major international hub and so far as I can tell, at least most of the Americas do not have Chip and PIN cards. So perhaps it would have been prudent to have installed less restrictive ticket machines.

It's not just AMS that questions the international versatility of Visa and Mastercard. Washington Metro's ticket machines do not accept a card unless you are able to enter a US ZIP code. How quaintly inward looking of them.