PIN isn't really needed. PINs are only more secure than chip in scenarios where the physical card is stolen, which is an extremely small portion of credit card

PIN isn't really needed. PINs are only more secure than chip in scenarios where the physical card is stolen, which is an extremely small portion of credit card fraud. Most physical fraud was from skimming, which chip blocks equally well as a PIN, but chip is more convenient. Using a chip reader for their point of sale system would have prevented the breach in this article. Source: used to work adjacent to the fraud analysis group at a large bank.