[Aardwolf]

Yep had chips for decades already in Europe (it's not called "EMV" here though, just a chip afaik).

I don't know who is liable in Europe for fraud (shop or bank), but, about the article, I find it odd, the chips should be more secure, so why are banks giving the responsibility of fraud to merchants while not for the insecure magstripes? The banks should be able to trust their own chips right?

[davb]

It is indeed called EMV here, it's just not marketed as such. EMV stands for Europay, Mastercard and Visa - the original consortium who agreed the smartcard payment standard. In the UK it's marketed as "Chip and PIN", but it's all EMV.

The specifications are all available online too [1] and make for an interesting, if involved, read.

EMV are responsibly for a number of specifications, including "Chip and PIN" style payment, contactless (NFC) and CAP (Chip Authentication Program - a two factor system where users are given self-contained challenge/response card readers with which virtually every EMV card is compatible).

https://www.emvco.com/specifications.aspx