Comment Chip cards aren't meant to prevent breaches (Score 5, Interesting) 229
There's a lot of misinformation here.
Chip cards aren't meant to prevent card breaches. For card-present transactions (in person at the store), the exact same encryption and cardholder data protection requirements are in place from the reader to the bank whether its EMV or old mag-stripe. For card-not-present transactions (online and e-commerce) EMV makes no difference at all.
Chip cards do one thing. They make it harder to make a fraudulent physical card. With mag-stripe it is trivial to take another credit card or even a subway gift card and recode its mag-stripe to use a stolen card number, so I can walk into a merchant and use that card.
The author appears to be confusing EMV standards with the PCI P2PE (point to point encryption) standard, which is meant to prevent breaches by doing many of the things the author describes.