Re: Chip and PIN will win
Right, there will be significant effort to upgrade PoS systems, which is one of the reasons for reluctance to move to chip and pin, because that upgrade will be expensive. And yes, the back end is still wildly insecure. However, my understanding is that most of the credit card fraud that occurs is from cloned cards. Chip and PIN prevents the use of cloned cards. Chip and PIN won't end fraud, but it should put a significant damper on it.
If we could move to Chip and PIN, and maybe also work out a robust tokenization method (that is, instead of storing card data, retailers store a token associated with a transaction), we'll have a much more secure back end. Of course, the devil is in the details, and there are a lot of details.