Signing off on credit and debit card purchases in this day and age feel like such an archaic activity in this day and age. And Mastercard acknowledges this as fact. According to the company, now there are only about 20 percent of its transactions in North America still need cardholders to sign for purchases. Mastercard is looking to eliminate this altogether by April next year—for both credit and debit transactions.
With the introduction of technologies like the card’s chip, tokens, biometrics, and digital platforms with better security, there shouldn’t be a concern about security. Mastercard claims most people aren’t even concerned about the loss of signatures. This move, in fact, could reduce time spent at store checkouts as well as reduce costs.
Source: Mastercard