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In my opinion, every credit card should have a PIN just for online purchases and one for purchases in a store along with a picture on the cards AND when they purchase in a store, they also have to enter their PIN just like a debit card purchase.
This will allow them to have better control of fraudulous transactions - if they lose the card - the finder needs the code - if they manage to get the code - they have to match the picture - not being able to do that - they'd try to go online to purchase - without the online PIN it will be much harder for them to capitalise on the stolen/found credit cards.
As for chargebacks - it's not that easy in Canada because there is more paperwork and there is also a certain amount of time you have to wait to get the form, fill it - they request a copy or proof, investigate, then come back to you with the decision.
The credit card companies should pay a separate company to take the chargeback info, investigate the 'complaint', collect the proof from all parties whether they got what they paid for or not - whether they took advantage of the purchase or not - go back to the credit card company, the merchant and the cardholder with the proof and the decision. (this is basically what Interac does themselves)
Let me tell you, there will be smarter shoppers/surfers and there will be less chargebacks knowing that everyone will know exactly what happened - signature or not.
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