As far as I understand, the phones rely on real crypto to verify transactions without exposing secrets to the merchant.
The chip and whatever cards despite taking 10 or more seconds are still just transferring the secret to the merchant. So once criminals figure out how to make copies they will be no more secure.
The chip and whatever cards despite taking 10 or more seconds are still just transferring the secret to the merchant. So once criminals figure out how to make copies they will be no more secure.