We have not had Chip and Pin for too long, just about a decade I think. Along with Chip and Pin came the contact-less system that was limited to a certain amount of dollars per transaction. Of course that is some form of security, the contact-less (or 'tap') method is also used with gift cards, but up until a year or two ago most of the readers and in fact the chips on the cards themselves would be faulty after some use.
I know my first chip and pin card did not work with contact-less, but then when it did it only worked for about a year until it stopped (not sure if it was the chip or the reader), now with a new card its working again, but I know if you have an older reader you most likely have to go back to the chip and pin method.
I went to the states for skiing last winter and found it interesting that I hesitated when the waiter/ess asked for the credit card to bring it to the machine and swipe it. It has been so long since the vendor has had to take my credit card away from my sitelines that it just felt differently, even though I was used to it in Canada up until the mid 2000's.