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This process is nearly instant in every country I have used it in except for the US, where it inexplicably takes 20 seconds of waiting both pre and post pin entry.

Don't you need to sign after a swipe?

Why would we move to chip when it's already obviated by tap?

For security reasons, contactless card payments are limited to small transactions and can only be used a certain number of times between chip and pin transactions.

Since it lacks a second authentication factor the compromise is to limit how much can be spent if the card is stolen.

The US could skip chip and pin if it switched directly to contactless mobile payments.

It's tap and PIN for higher amounts. The same thing, just wirelessly.