Visa will make signatures optional for chipped credit cards
It’s been about a month since American Express and Mastercard decided to stop requiring signatures for EMV chip credit cards. Now Visa is joining their ranks, making signatures optional for chipped transactions in North America.
“Visa is committed to delivering secure, fast and convenient payments at the point of sale,” said VIsa’s Dan Sanford in a statement. “Our focus is on continually evolving the market towards dynamic authentication methods such as EMV chip, as well as investing in emerging capabilities that leverage advanced analytics and biometrics. We believe making the signature requirement optional for EMV chip-enabled merchants is the responsible next step to enhance security and convenience at the point of sale.”
Contact and contactless chip-enabled points of sale are taking over, of course, for their enhanced security and convenience for retail transactions. Visa notes that it has deployed more than 460 million EMV chip cards and readers at over 2.5 million locations.