Re: Chip and PIN will win
I have to agree. What the Target breach taught us is that the vulnerabilities are in the architecture that carries the data, not the cards or EMVs.
That said, cards that require PINS would have saved American Express $1800 last week, after someone made off with my AMEX card and went on retail buying spree, merrily swiping my card at a dozen stores. If I hadn't alerted AMEX the card was missing, he/she might have wrung up another $1800 or more in charges. A PIN would have prevented that. But I'm a happy AMEX customer. The wiped the charges off my account and sent me a new card.
One suspects its cheaper for them to write off the losses than to get behind a national campaign for smarer card systems that retailers, already unhappy with the percentage card issues collect, are unlikely to pay.