Big change in credit card rules starts this month

Signatures no longer required for credit card purchases in North America

Chris McGinnis | Source: SF Gate

Effective April 14, a rule change at the major credit card companies will make life a little bit easier for travelers – and for everyone else who uses a card for purchases.

That’s when Visa, MasterCard, American Express and Discover will end the requirement that merchants must get a customer’s signature transactions.

The end of required signatures is a result of the U.S. credit card industry’s big changeover in the past several years to cards equipped with a small chip. The signature rule will remain in place for merchants that aren’t equipped with chip readers, but that is a small and shrinking minority.

While merchants will no longer be required to obtain a customer signature, they will still have the option of doing so if they choose. For example, restaurants may still want to ask for a signature so the customer has the opportunity to leave a tip.

Full article at SFGate

Share the news with your friends!

PinIt

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>