The big financial moments in life used to be marked with a flourish of a pen. Buying a house. A car. Breakfast.
Not anymore. Visa, Mastercard, Discover and American Express dropped the requirement to sign for charges like restaurant checks in 2018. They don’t look at our scribbles to verify identity or stop fraud. Taps, clicks and electronic signatures took over the heavy lifting for many everyday purchases—and many contracts, loan applications and even Social Security forms. The John Hancock was written off as a relic useful mainly to inflate the value of sports memorabilia.
But signatures didn’t die.
We continue to be asked to sign with ink on paper or using fingers on touch screens at many restaurants, bars and other businesses. And people keep signing card receipts out of habit—even when there is no blank space for it—because it feels weird not to, payment networks and retail groups say.
“Traditions have this odd way of sticking around,” said Doug Kantor, general counsel of the National Association of Convenience Stores.
Cool cool so instead of a signature which means nothing you have to put in your secure pin number every time you tap…genius.
Lol
Nah, I’m only ever prompted for a PIN for large purchases which seems to start for me at ~250 CAD
Anything under €50 doesn’t require a pin. I think it’s going up to 100 soon.
Also our banking security technology is about 20 years ahead due to a simple ruling that banks are responsible for fraud, not consumers. You can happily share your bank details or put them on your website with no worries
You have to be reasonably dim or senile to get scammed
No. Tap to pay only requires a PIN for large purchases ($100 or so), or if you turn on the setting to ask for a PIN for small purchases too.
I’ve only needed to enter my PIN for small purchases when inserting and using debit/EFT@POS functions.
You sound like you’d rather someone can just take your card and swipe where ever they want instead of them having to know a PIN to use it. You’re a genius.