Afaik Paypass/Paywave can't be cloned as well (http://android.stackexchange.com/questions/21982/can-i-clone...) so their "solution" is going to be interesting. The purpose of chipped cards is exactly to prevent against clones/skimming, so these devices should die pretty soon. If they don't go the Apple Pay way, which probably costs a huge amount of time and money.

"Chip & signature" cards are surprisingly well-deployed already, at least on the card side. I've received several new cards in the last 6-12 months with a chip, but apparently no PIN. Walmart's payment terminal made me use the chip when I tried swiping (AmEx). I don't know if that behavior is selective based on transaction value or something, but that particular card may already be incompatible with Coin.