No. I routinely spend amounts of the order of a thousand dollars at
retailers by Chip and PIN card, and it's a one-shot process.

If that's true, then I suspect your credit limit is stored on the card.

No, it's EMV. The card creates a signed transaction that the terminal
sends to the bank. From the user's point of view, the terminal
displays the amount, you enter the PIN and press OK, then a few
seconds later the terminal says the transaction is approved.

They never ask for a signature, unless you're swiping a non-chip
(usually U.S.) card.

R's,
John


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