[zhyder]

That doesn't solve the problem Cushman mentioned (and clarified several times to thinkcomp in this thread): giving up all your credentials including PIN/"password" to the merchant's hardware, and trusting the merchant and its hardware.

What's needed is a device you own and control directly communicate with the bank. Cushman suggested using one's smartphone, but I think the card itself could serve that purpose. The card has a display, a processor, and a keypad: everything except a data connection.

[bananaandapple]

That's just like a computer without even having the possibility to reinstall. Just imagine catching a trojan horse on the phone, stealing your credit card info. I prefer paying by PIN. The POS Terminal doesn't connect to the internet.