On April 13, American Express and Mastercard will eliminate the requirement for signatures to authorize transactions at physical checkout points. Mastercard will remove the requirement for North American merchants first, while Amex is implementing the change worldwide. The signature requirement will remain, however, within jurisdictions that require it by law.
Amex, Mastercard and Discover all announced in December they would eliminate the requirement by April but had not specified exact dates. Discover did not respond to a query this week about an exact date. Visa announced in January that it would give North American merchants the option of whether to collect signatures for chip cards beginning in April. Visa had told BTN that more than 75 percent of in-store Visa transactions in North America already don't require a signature.
The networks had previously said their fraud-preventing capabilities had advanced to make signatures unnecessary. Online cyberattacks, however, continue to be a problem. On April 5, Deltaannounced hackers may have accessed customer payment information through its chat service provider