Discover Is Eliminating Purchase Signature Requirements In 2018

It is a consumer burden. As security is reduced or not implemented, like Chip+PIN, we have to more carefully audit the bill and discover the fraud.

Chip+PIN would benefit the system and underwriting of the funds, as well as benefit consumers.

" If you’ve ever dealt with credit card fraud, you’re not even asked to look at receipts and confirm if a signature is from you."

On the other hand, I had cheque fraud last year (chequebook stolen) and the bad signature was used to clear the case.

But yes, for credit cards, theyre ridiculous.

Note: I was just in Peru and for EVERY credit card purchase, besides a signature, you had to give you passport number!

Welcome to the year 2000 in most countries outside the US. Signing a card receipt is a joke. Anyone can sign whatever they want and nobody cares. Just an extra step that doesn't make any sense.

The point of the security features of credit cards is to manage fraud, not eliminate it. So, if the credit card companies and banks are comfortable with the fraud that comes from not having chip and pin, so be in. There's also a "cost" in making consumers change behaviors, so they clearly think that's not worth having in the U.S., where credit card usage has typically been much higher and where Americans carry more credit cards per person than in Europe.

Visa is in on this too. Walmart no longer requires a signature, even for very large purchases.

The extra cost of fraud goes in higher merchant charges and thus, ultimately, in higher costs for shops etc. Not necessarily higher prices as large chains can negotiate significantly better deals - so the real effect is on independent retailers.

It's clear that the US issuers don't care about extensive fraud but it's absurd to think that it has no effect on consumers - people hate the hassle of regularly having to change cards because of fraud and dealing with all the consequences.

And it can't be about speed of transactions since contactless is massively faster and they haven't bothered with that when it's now commonplace in most of the developed world. Instead they have ceded the market to Apple and Google who have a less satisfactory solution.

I made a purchase of a cup of coffee at McDonald's some time ago and was told the swipe did not work and to swipe again. Well I did so, got my receipt and left. Well it turns out that the first swipe did work and I got billed for that and for the purchase of the next customer. I explained this to Amex and they said, essentially "tough", nothing we can do. Anyway, I went back to McDonald's and the very nice manager went back through the computer records and realized my story made sense and made good on this. This was very disturbing that Amex would not let me dispute this charge. Maybe I could have tried going through the full dispute rules, but I really did not have much proof, although it was obvious what happened.

This will literally change nothing. All the card networks forbid requiring a signature for purchases under $25, yet this is obviously not enforced. It’s up to the individual merchants since the networks clearly don’t enforce their own policy. I’ve reported many local businesses to the networks for violating this policy and notified them in writing with no changes.

yes we've had chip and pin for the last 10~ years in Canada. Tap or "pay wave" is the newest method in which you just tap your card on the terminal to instantly pay for purchases under $100. Saves even more time not having to wait for the screen to load to input your pin number. Chip and pin is very slow by comparison.

I have no problem with this. If anything, the signature requirement is a security PROBLEM, not solution. When I'm in the US, here I am making purchases, often the retailer has my e-mail or postal address, now they have my signature.

There are even a couple of quick-serve restaurants I go to where the cashier makes you sign the receipt, then immediately PUTS IT IN THE RUBBISH BIN! Not even a shredder.

I keep begging my banks for Chip+PIN but they still don't do it, which makes absolutely no sense to me. Especially for credit cards marketed as "travel cards."