Great news! Starting in April 2018, Mastercard will be eliminating the requirement to sign your name after swiping one of their credit or debit cards at checkout. This will occur in both the U.S. and Canada.
Many times at checkout I’ve noticed that for the majority of my small transactions, signing is not required anyway. But on occasion (it seems to be around a total of $50+) the machine still asks me to do so. It’s not a huge inconvenience, but it definitely adds a few seconds to the checkout process.
That said, have you also noticed that you can basically sign (or “draw”) whatever you want on the line and the transaction still goes through?
Yep…those signatures do very little to help prevent fraud or increase security in any way. That’s probably why “more than 80 percent of Mastercard in store transactions in North America today do not require a cardholder signature at checkout.”
Click here to read the full article by Lind Kirkpatrick, EVP of U.S. Market Development at Mastercard.
Cover image credit to iDB.