We have reached yet another pinnacle in payment technology and payment security with 80 percent of Mastercard in-store transactions not needing a cardholder signature at checkout. Although it sounds like a small milestone, such news provides concrete evidence of adjusted customer convenience with growing levels of security on credit cards and debit cards. Mastercard’s new digital payment methods include chip, tokenization, biometrics, and specialized digital platforms with newer and more secure identity protection as well! This comes after Mastercard introduced a Early Detection System to help financial institutions prevent serious attacks. Mastercard projects eliminating all signature requirements by April 2018.
|Chase College CheckingSM: Get $100 as a new Chase checking customer when you open a Chase College CheckingSM account, enroll in paperless statements and complete 10 qualifying transactions within 60 days of account opening. The account comes with free Chase Debit Card, Mobile Check Deposit, Banker guidance, Text banking and QuickPay with Zelle. Get Coupon---Chase College Checking Review|
- Mastercard is the first payment network to announce a methods of eliminating signature requirements.
- Currently, 80% of checkouts do not require signatures for Mastercard cardholders
- By April 2018, Mastercard will eliminate signatures as a requirement in whole
The signature requirement, in practice, doesn’t really provide any additive security as many people think it should. Mastercard doing away with Signature requirements is a pretty solid move in my opinion. I’m assuming that they are going to integrate PIN technology as a replacement. Some things to note, currently, 80% of checkouts do not require signatures for Mastercard cardholders. By April 2018, Mastercard will eliminate signatures as a requirement in whole. To conclude this post, be sure to check out our complete list of Credit Card Promotions for all your credit card bonus needs!
|With the Wells Fargo Propel American Express® Card:
-New! Earn 30K bonus points when you spend $3,000 in purchases in the first 3 months - that's a $300 cash redemption value
-Earn 3X points for eating out and ordering in
-Earn 3X points for gas stations, rideshares and transit
-Earn 3X points for travel including flights, hotels, homestays and car rentals
-Earn 1X points on other purchases
-$0 Annual Fee
-0% Intro APR for 12 months on purchases and balance transfers (fees apply), then a 14.49%-26.99% variable APR; balance transfers made within 120 days qualify for the intro rates and fees
Select "Apply Now" to learn more about the product features, terms, and conditions