Certainly in the UK, I'd think something dubious was going on if my credit card disappeared during payment. However, I've no objection to a cashier by the exit for settling up, particularly in restaurants with lower staffing levels. That wait between receiving the bill and settling can be incredibly irritating, particularly if one of the chip+pin machines runs out of battery.

Actually, there's a restaurant I go to sometimes in Copenhagen which takes this to an extreme. Restaurants in Denmark tend to have absolutely minimal waiting staff (people don't come cheap over there), and this particular one gives you a smart card as you enter. You then seat yourself, and order directly from the bar or one of the chefs at different stations round the open kitchen. It all goes on the card.

At the end of the evening, you pay on the way out - your choice if it's all paid by one person, or split however you want.