Swiping your credit card is becoming as prehistoric as dial up internet. Susana Victoria Perez has more.
Most of the slightly surprising news that comes out on April 1st is unsurprisingly fake. But one change went into effect Sunday that is real: You probably don’t have to sign your credit card receipts any more.
Starting April 1st, the big four credit card companies — Visa, American Express, Mastercard, and Discover — don’t require a signature from merchants when customers pay with a credit card. There are a few restrictions, and some shops and restaurants may still ask for your signature, but hopefully this is the beginning of the end for America’s dumbest authentication system.
American Express, Mastercard, and Discover are doing away with signatures for every merchant in North America, and American Express is killing signatures worldwide. Visa is a little more limited, as it will still require a signature if you swipe your card rather than using a chip. The majority of stores now have chip-enabled readers, however, so using the magnetic strip should be a thing of the past in the very near future.