Visa Cards Won’t Need Signatures By April
Visa joined the other three major credit card companies which quit the signature requirement on credit card purchases in North America. The ongoing migration to the EMV chip for cards brings enhanced security and freedom to point of sale, so you don’t have to sign your purchases anymore.
Visa is the latest of the major credit card companies to leave the signature requirement. Mastercard, American Express, and Discover has already made this decision. This has been in the works since 2011 when Visa detailed its plans for the selection of the EMV chip technology. Since then, Visa’s partners have reached over 460 million EMV chip cards and compatible readers at more than 2.5 million locations.
Visa wanted the EMV chip since it launched in the United States, card fraud has declined 66 percent at EMV chip-enabled merchants. Visa has made the signature requirement option, but it’s up to the retailers now to decide whether or not they want their customers to sign for their purchases. Visa don’t want your signature now.