Until the card issuers enforce the same kind of authentication across every country on earth, none of this will ever do any good.

Chip and PIN was supposed to stop fraud, but all that happens is the card gets cloned and then either used in the "customer not present" manner, or it gets used in another country where PIN authentication isn't used. These non-PIN countries are alarmingly near, just a quick RyanAir flight (crash landings permitting) away!