Funny you mention PINs. We did finally get chipped cards in the US, but it’s “chip and signature” so we’re missing some of the security improvements. Harder to skim at least?
Phone and watch based NFC will eventually displace that I think.
I personally prefer Chip and Signature. We have the same system in Hong Kong where most cards have a Chip and PIN but most card readers will just ask for your signature anyway. It puts the burden on the merchant to check the signature instead of the cardholder to not have their PIN guessed/overseen. We also seem to have no limit on PayWave (contactless) transactions but for larger purchasers the merchant may ask for a signature over the "No Signature Required" slip anyway.
> It puts the burden on the merchant to check the signature instead of the cardholder to not have their PIN guessed/overseen
Maybe it's different in HK, but here in US and A I literally just make random scribbles (or sometimes just write "void" for kicks) and nothing is ever checked.
Works the same in HK but if you notice a suspicious transaction you can get it reversed when the signature doesn't match. If you use the PIN it's a lot harder to reverse.
Phone and watch based NFC will eventually displace that I think.