... The chip works all the time (unlike the magnetic strip) and has added security features.
Those "added security features" will represent a challenge to hi-tech criminals everywhere. Let's see how long it takes some Chinese or Indian 'techie' to figure out those added security features and produce their own counterfeit 'smart cards.'
... From what I understand, the "chip" is a French invention (i'm not sure of the company) and has proprietary status. As a result they are still expensive for companies to use, but soon all companies will change to the chip. ...
I don't think that's an imminent threat; but you may soon be able to purchase 'smart cards' with a fixed amount of credit on them (like the Telefonica phone cards) that may be used in places like your Paris Restaurant.