My Bank of America Visa recently expired, and the new one they sent me has what appears to be chip and pin. Weirdly, there is no information in the included pamphlet about the technology. I assume they're just preemptively putting the cards out there.
I have a Bank of America MasterCard that expired recently and they sent me a new card, but when you go to their information page about chip cards ( http://bankofamerica.com/chipcardfacts ) it seems pretty clear that it's actually chip and signature. They emphasize that if you get asked for a PIN, you should tell the merchant it only requires a signature.
I don't know enough about chip and PIN to say if it's possible, but I'm hoping that means they'll eventually move to adding a PIN too.
All that said -- my iPhone 5 is coming off contract in a few weeks now and I definitely plan on picking up an iPhone 6; I'm looking forward to seeing how well Pay works.
