Visa joins other major credit cards in getting rid of signature requirement

Lloyd Doyle
January 13, 2018

Visa has now joined the other major card networks in eliminating the signature requirement for consumer purchases made in the USA with an EMV-enabled Visa-branded payment card. Roughly a quarter of transactions on its payments network now require a signature.

Like other credit card companies, Visa claims that the improved security brought by the recent issuance of EMV chips, and other security improvements, makes it so that signature aren't really a necessity anymore.

The move takes effect in April for more than 2.5 million merchant locations with terminals equipped to read so-called EMV-chip cards, San Francisco-based Visa said Friday in a statement. Visa is the last of the major USA payments networks to ease the signature requirement. Following that, VISA has made a similar announcement, saying that signatures will be made optional for all merchants that support the EMV chip.

The change will enable North American users of Apple Pay, Google Pay (formerly Android Pay/Google Wallet), and Samsung Pay to complete Visa transactions with little more than an identity-authenticated touch of the device to a payment terminal.

Get tech news in your inbox weekday mornings. Less than two years since EMV chip launched in the US, fraud declined 66 percent at EMV chip-enabled merchants.

Walmart has often led the fight against card fees, once threatening to ban Visa's cards from all of its Canadian stores.

Signatures are an added level of security for customers, but Visa said there's been added protection from the introduction of chip-enabled cards, called EMV.

Other reports by Iphone Fresh

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