News • 26.04.2018

Mastercard retires customer signatures

Merchants newly empowered to simplify and speed store checkout

Chart on Signature behaviour  copyright: Mastercard News...
Source: Mastercard News

Mastercard announced that merchants in the U.S. and Canada can forego cardholder signatures for in-store credit and debit purchases, effective on April 13. The goal is to speed customers through checkout lines and give merchants greater control over customer experience. Merchants will decide when to implement the change.

“In our digital, fast-paced marketplace, consumers appreciate any opportunity to save time. This is why Mastercard led the charge to officially ‘retire’ cardholder signatures from store receipts,” said Linda Kirkpatrick, executive vice president, U.S. Market Development at Mastercard. “Merchants recognize that cardholder signatures have limited use, and are embracing this change to create efficiency for their customers.”

Over the past several years, Mastercard has implemented new security and authorization solutions, including the successful chip migration, tokenization and biometrics as well as early detection systems to minimize the need for cardholder signatures in fraud prevention. Zero Liability protection means that cardholders are never responsible for card compromises. In addition, contactless or tap-and-go payments are set to take off with a majority of new payment terminals equipped with the necessary hardware.

To commemorate the change, Mastercard conducted a “Signature Retirement” survey and found that consumers want to join the celebration in saying good-bye to signatures:

  • Americans celebrate the retirement of signature: Nearly one in five Americans (17 percent) don’t remember the last time they used their signature outside of a sales receipt. Younger generations are less likely to remember this information (20 percent of those 18-34 years don’t remember vs. 14 percent of those 55+).
  • Signatures have gone the way of checks: Outside of sales receipts, over half (55 percent) of consumers only sign their name a few times a month or less.
  • Less is more in checkout lines: Almost three-quarters of Americans (72 percent) get annoyed when the person in front of them in a store line takes a long time to check out.
  • Younger Americans dislike writing in script: While one in three Americans dislike writing in script (32 percent), younger consumers (18-34 year-olds) are nearly two times more likely to dislike writing in script (41 percent) compared to those 55+ (24 percent). 

Mastercard was the first to announce in October 2017 that it would no longer require stores to capture signatures at checkout.

Source: Mastercard

related articles:

popular articles:

Thumbnail-Photo: Online inventory management system
06.05.2019   #online trading #e-commerce

Online inventory management system

5 things e-commerce retailers should look for

In order to perform online efficiently as an Internet retailer, one needs to choose the most effective inventory management system. Its main features should include centralised user interface, full automation, automated stock checking and ...

Thumbnail-Photo: Goodbye paper receipts: All documents stored in one app...
16.05.2019   #epos systems #cashpoints

Goodbye paper receipts: All documents stored in one app

What happens when the Receipt Provision Ordinance takes effect? We digitize!

They create a lot of work and endless waste: tons of paper receipts from cash registers end up with customers or the waste bin every day. In early 2020, all consumers must be given a purchase receipt in Germany. That’s what the law mandates. ...

Thumbnail-Photo: Digital Signage Summit (DSS) Europe
07.05.2019   #digital signage #digitization

Digital Signage Summit (DSS) Europe

iXtenso readers receive a 30% ticket-discount!

The two-day event comprises a comprehensive mix of twin-track conference programme; hands-on workshops; exclusive presentations; numerous networking opportunities and a vendor and service supplier exhibition area.In 2019, DSS Europe returns to the ...

Thumbnail-Photo: APG Cash Drawer: new SMARTtill business development manager...
15.05.2019   #cash management #cash handling systeme

APG Cash Drawer: new SMARTtill business development manager

APG Cash Drawer announces hire of SMARTtill business development manager

APG Cash Drawer, a fast-growing global manufacturer of cash management solutions, announced today the addition of Tony Pusateri as SMARTtill Business Development Manager. ...

Thumbnail-Photo: U.S. merchants lack critical tools to fuel global expansion...
10.07.2019   #online trading #e-commerce

U.S. merchants lack critical tools to fuel global expansion

Top challenges: payment localization, compliance, and cybersecurity

Rapyd, a FinTech-as-a-Service provider, today announced the results of its inaugural ‘2019 State of Cross-Border eCommerce: U.S. Merchant Outlook’, which found that most U.S. business units (91 percent) prioritize cross-border sales as a ...

Thumbnail-Photo: Changing markets: embracing disruption to harvest opportunity...
18.06.2019   #digitization #event

Changing markets: embracing disruption to harvest opportunity

Reporting from the first annual Retail & Brand Experience World Congress in Barcelona

More than 200 industry insiders highlighted the many challenges facing the retail sector today in interesting talks and lectures.Topics included the customer experience, the use of technologies, digital media, omnichannel strategies, personalization ...

Thumbnail-Photo: 45th anniversary of the barcode in retail
01.07.2019   #barcode scanner #qr code

45th anniversary of the barcode in retail

GS1 US celebrates the barcode’s relevance as the backbone of commerce

GS1 US®, the information standards organization best known as the administrator of UPC barcodes, this week celebrates 45 years since the debut and first scan of the iconic barcode. On June 26, 1974, a pack of Wrigley's chewing gum carrying a ...

Thumbnail-Photo: Nets and Swish partner on in-store payments pilot...
23.07.2019   #mobile payment #mobile terminals

Nets and Swish partner on in-store payments pilot

Bluetooth tech enables scalable instore payments for mobile payment app

Nets, a European payments company, and Swish, the number one payments app in Sweden, announce their collaboration on an in-store payments pilot program.Until now, Swish has mostly been used for account-to-account transactions and, more recently, ...

Thumbnail-Photo: Social commerce 2.0: artificial intelligence detects purchase intention...
18.04.2019   #e-commerce #sustainability

Social commerce 2.0: artificial intelligence detects purchase intention

Choosy analyzes fashion trends on Instagram – and redesigns them

The fashion world moves at lightning speed – and more than ever thanks to the rise of social media. In the past, key trends emerged off the runways twice a year during fashion weeks. Now Instagram et al. set the tone daily thanks to feeds of ...

Thumbnail-Photo: Improving performance with video training
19.06.2019   #personnel management #video

Improving performance with video training

Video tutorials for inventory management or customer service excellence

Smart Retail Solutions (SRS) has announced their ProfitTrax Platform is now including Best Practice Video Training in its Advanced Analytics Suite. Their team has successfully implemented the update because they believe the key to profit improvement ...

Supplier

ROQQIO Commerce Solutions GmbH
ROQQIO Commerce Solutions GmbH
Harburger Schloßstraße 28
21079 Hamburg
Delfi Technologies GmbH
Delfi Technologies GmbH
Landgraben 75
24232 Schönkirchen
LANCOM Systems GmbH
LANCOM Systems GmbH
Adenauerstraße 20 / B2
52146 Würselen
APG Cash Drawer
APG Cash Drawer
4 The Drove
BN9 0LA Newhaven