I don't know why the US hasn't adopted EMV. It's not perfect, but it has cut down fraud massively here in Europe.
They're very hard to clone (I won't say impossible, but attacks against EMV have not generally been of this nature) and the transaction records at both ends will tell you whether the actual, real card was there.
The liability is more clear-cut as a result. If the customer claims the charge was unauthorised, that's between the bank and the customer.
--edit-- of course with EMV cards Coin would no longer be possible or relevant. Neat product, only useful in a magnetic-stripe world, which is at least a decade behind the curve now.
Theoretically with EMV you could put all your credit-cards on one chip and the terminal will either choose a supported default or present you a list, but that would require cross-bank cooperation, never going to happen.
They're very hard to clone (I won't say impossible, but attacks against EMV have not generally been of this nature) and the transaction records at both ends will tell you whether the actual, real card was there.
The liability is more clear-cut as a result. If the customer claims the charge was unauthorised, that's between the bank and the customer.
--edit-- of course with EMV cards Coin would no longer be possible or relevant. Neat product, only useful in a magnetic-stripe world, which is at least a decade behind the curve now.
Theoretically with EMV you could put all your credit-cards on one chip and the terminal will either choose a supported default or present you a list, but that would require cross-bank cooperation, never going to happen.