American Express Eliminates Signature Requirement
12-11-2017
ETA member and global card network American Express announced that it was dropping signature requirements for American Express-accepting merchants worldwide starting in April 2018.
The move, American Express says, will provide a more consistent and simplified checkout experience for merchants and card holders around the globe.
“The payments landscape has evolved to the point where we can now eliminate this pain point for our merchants,” said Jaromir Divilek, Executive Vice President, Global Network Business, American Express. “Our fraud capabilities have advanced so that signatures are no longer necessary to fight fraud. In addition, the majority of American Express transactions today already do not require a signature at the point of sale as a result of previous policy changes we made to help our merchants.”
The move away from the traditional signature requirement at the point-of-sale comes as other card networks make similar announcements. Last week, ETA member Discover Global Network announced it was dropping signature requirements for merchants in the U.S., Canada, Mexico and the Caribbean. In October, Mastercard announced that the signature requirement was going away starting April 2018 for merchants in Canada and the U.S. American Express is the first card network to eliminate the requirement globally, the firm said in its release.
Read the full release here.
About ETA
The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $56.75 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers.
ETAs membership spans the breadth of the payments industry to include independent sales organizations (ISOs), payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and software providers (ISV) and hardware suppliers. For more information, visit electran.org.
Related Posts
News
INFOGRAPHIC: Tracking the Evolution of Loyalty Solutions
Loyalty programs cultivate lifelong customers. And they’ve come a long way since the days of punch cards. Modern loyalty solutions integrated mobile payments, rewards and ecommerce technology to get customers to keep coming back. For . . .
5-20-2021
learn more
News
ETA CEO Jodie Kelley: Reflections on the Past Year and Looking Ahead to the Future
By Jodie L. Kelley, CEO, ETA. As I complete my first year as CEO of ETA, I am struck by what an extraordinary year it was in so many ways. As we entered 2020, I . . .
9-28-2020
learn more
News
TSG INFOGRAPHIC: Assessing the Value of Payments Technology
Accepting digital payments costs merchants money, but the “juice is worth the squeeze,” argues payments research firm The Strawhecker Group in their latest infographic. The infographic highlights data that demonstrates the immense value merchants and . . .
7-23-2020
learn more