Actually I didn't know the details but had thought that would be the safest method to deal with the PIN. But I assumed you were talking about the equivalent of

Actually I didn't know the details but had thought that would be the safest method to deal with the PIN. But I assumed you were talking about the equivalent of the "Track 2 data", i.e. issuer ID, account number, etc. Is that also kept away from the ATM? As for the PIN - if the encryption happens in the chip card, how does it get from the PIN pad to the card in a way that cannot be intercepted? And finally, what prevents compromised ATM software from displaying "please enter PIN now" while keeping the PIN pad int the direct mode used to enter the amount?