Did you actually bother to read the article, or even the link? It’s chip AND pin, or chip AND signature. Pins and signs ain’t going away.
That’s an interim function ... they’ll do both until everything is in place. These things are phased in and that’s what we’re talking about here.
I should mention also that this is an interim step to “no pin” and “no signature” cards, or what they refer to as “contactless payment”.
Actually I was using that very thing, “contactless payment” in Dallas, Texas - back in 2005 through about 2008 in a limited trial. It worked great. I just “waved” it and the transaction was done ... :-) ...
Oh ... and one more thing ... I’ve been reading that Apple is probably going to get into the payment systems act, too. I believe they’re talking about using the iPhone (or any iDevice they have) with Bluetooth and making it a “contactless payment” system — no signature and no pin!