Customers will no longer have to sign their restaurant receipts once these major credit card companies drop the requirement. Thanks to the adoption of EMV technology, aka the “chip” now found in most credit cards, signatures are no longer needed to prevent theft.
Restaurant Business reported that major credit card companies Mastercard, Discover, American Express, and Visa announced that they will end signature requirements on credit card receipts beginning Sunday, April 1. The outlet reported that Visa said their credit card fraud has dropped by more than 66 percent due to EMV technology, and that Mastercard announced that in October of last year more than 80 percent of their transactions were already being closed without a signature.
The rise is largely attributed to online shopping, mobile payments, and tap-and-go technology. “With the rise in new payment security capabilities, like chip technology and tokenization, the time is right to remove this step from the checkout experience,” said Discover’s vice president of global products innovation, Jasma Ghai, in a statement.
Now you can spend less time signing receipts for drinks, and more time moving on to your meal at some of the 101 best restaurants in America.