[LeifCarrotson]

The ones which are widespread are just "chip-and-choice", where you can use the chip and sign a paper receipt. They usually come with a magstripe backup...the chip is just used to read the card number instead of the magstripe. Pretty worthless.

True chip-and-pin cards and terminals will generate a cryptogram that authenticates the individual transaction. You type in the PIN code, and only then will the terminal communicate with the EMV microchip in the card and allow the transaction to complete.

[colejohnson66]

Is there a difference in the user experience? Because everywhere I use my debit card, I can’t take it out unless I enter my pin first. I’d assume that means it’s actually communicating with the chip. And even then it takes a few seconds.

The magstripe is there for old POS systems and the off chance the chip can’t be used (dirty contacts), but the reader has to allow you to use the strip. And that only happens after multiple (about 3) failures.

[sgjohnson]

Doesn’t matter. Chip-and-signature is an EMV compliant way of authorizing a transaction.