[mrweasel]

It's going to useless in Europe as well. I doubt that the credit card companies will approve a terminal of any kind that relies on the magnet strip, rather than the chip.

I actually had a meeting with a guy from a credit card clearing company yesterday. His comment was that the credit card companies have pretty much given up on introducing chip and PIN to the US. They'll just let the US keep the magnet strip and signature until they can replace the credit card with things like VISA Wallet, NFC or whatever the solution will be.