This is the proxy method, but I think in a worst-case scenario, it is possible to emulate the card from the perspective of an older non-cryptographically-challe

This is the proxy method, but I think in a worst-case scenario, it is possible to emulate the card from the perspective of an older non-cryptographically-challenge-based reader. Specifically, there seems to be interoperability between PayPass (PayWave) M/Chip cards and MagStripe terminals (insecure), so they may only be as secure as the MagStripe terminal, which they have to maintain backwards compatibility with (even though it's called "MagStripe" I believe it is still a contactless interface). I'm still learning about it myself, so correct me if I'm wrong.