The death of “signing your name” when using your credit card has happened.
If you’ve used your credit card today or yesterday, you may have noticed that you no longer need to take the extra 10 seconds to scribble an illegible signature on your receipt.
This has been in the works since companies began issuing cards with EMV chips, but it’s been a slow process to get to this point. CreditCards.com notes that the U.S. is behind many other countries in adopting this payment standard. It’s being done to speed up and simplify the checkout process.
It’s also a reflection that requiring signatures is no longer the best way to combat fraud. “Our fraud capabilities have advanced so that signatures are no longer necessary,” said Jaromir Divilek, American Express’s Executive Vice President of Global Network Business, in a press release.