One trick (which I believe has been fixed) is not so much a replay attack but a multiple transaction attack. A modified terminal makes multiple transactions on

One trick (which I believe has been fixed) is not so much a replay attack but a multiple transaction attack. A modified terminal makes multiple transactions on the card while the card is still in the terminal, coupled with another attack that modified what was presented on the screen of the terminal could turn a single $5 transaction to 3 $500 transactions. The video is 3 years old now but still worth a watch discussing the attacks they have seen on Chip and Pin - https://www.youtube.com/watch?v=Ks0SOn8hjG8 https://www.youtube.com/watch?v=Ks0SOn8hjG8