I had a debit card with no chip for years until I was forced to upgrade. Not long after upgrading my debit card to this "more secure" card my card information was stolen somehow and someone spent almost $800 a week before Christmas at Victoria Secret in San Francisco. Not all at once, they first made a $400 purcahse, then returned and made another $300+ purchase because the store wasn't ID'ing people and since the debit card is techincally a debit/credit card and can be run as credit theives don't have to worry about a pin number. I think it would be fantastic if I could have my checking account linked to a debit only card that required my pin no matter what without the option of being used as credit.
This whole incident made for a pretty sad Christmas and I felt obligated to open a real credit card to carry for traveling because I have to worry about my debit card being stolen and used without my pin and the lengthy hassle it was to dispute a purchase made with real digital money instead of fake digital money.