To clarify, EMV supports tokenized transactions that emulate the _contents_ of the magnetic stripe over NFC, and this is what is broadly used in the US.
Note here[0] that Chase states that only contactless MSD support (contactless magstripe emulation over NFC with a dynamically-generated security code) is required for Apple Pay; a subset of contactless EMV.
Note here[0] that Chase states that only contactless MSD support (contactless magstripe emulation over NFC with a dynamically-generated security code) is required for Apple Pay; a subset of contactless EMV.
[0] https://www.chasepaymentech.com/developercenter/applepaymode...