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Yes they can but only by the issuing bank.
the means of changing/updating the emv chip is via scripts. These are called issuer script and they will affect key values/tag present on the chip. For instance, NFC can be disabled or re enabled; daily spending limit, online and offline limits can be changed as well; set/reset the PIN counters etc…
The only entity able to perform these changes is the issuing bank that has the proper cryptographic keys that will authenticate against the chip.
hope this helped.
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