Aren't the vast majority of chip and pin transactions authorised online so the banks could, if the wished, send out a notification for every new transaction. Chip and pin transaction on the Santander spendlytics show up immediately but they don't send out a notification. I would have thought it would be useful thing to do as it would allow you to identify a fraudulent transaction immediately.
it would only really work if they *all* were (like unionpay). when you start not getting notifications for hours or longer for a spend on a train, or a plane, then it devalues the idea in the first place.