The universal End To End Encryption of card data would be between EMV card application itself and Payment Network / Issuer host ... as described here
https://www.dropbox.com/s/4c1n4ozui33rr7b/EMV%20With%20E2E-FPE.pdf?dl=0

and as presented at CARTES 2014 in Paris https://www.dropbox.com/s/xitf1wpecpynh7h/CARTES%202014%20E2E-FPE.pdf?dl=0

On the other hand all acquirer provided P2PE (or E2EE) schemes are mainly proprietary and make it more difficult for merchant to switch between acquirers (once they subscribe to a particular solution), plus they rely on merchant's collaboration and willingness to invest $ and install and protect P2PE card reader (dishonest merchant can easily sabotage and go around it by installing additional card reader for skimming and swipe twice, etc

Something like this could save merchants significant $ on PCI-DSS certifications / yearly audits and make a very compelling business case for them to adopt EMV with E2E-FPE included