NPRs Planet Money did a total fluff piece[0] where they talked about how slow chip cards were, and why they couldn't be adopted in the US because of the speed.

In Europe, even when being abroad (if that makes a difference), I have never had any issues with delays or payments, it only takes 1-2 seconds.

[0] http://www.npr.org/sections/money/2016/04/13/474135422/episo...