Does the Chip and Pin really afford that much protection? Surely it doesn't help with the underlying payment network, i.e. internet payments. The only thing tha

Does the Chip and Pin really afford that much protection? Surely it doesn't help with the underlying payment network, i.e. internet payments. The only thing that would really help here would be something like a credit card 2fa required for all transactions (which, to my understanding, the chip provides).