Many of the top credit card companies stopped requiring a signature on point of sale transaction starting at the beginning of this month. Visa, American Express, Mastercard and Discover, will now save you the extra ten seconds you spent scribbling your illegible signature per transaction. This has been in the works since the credit companies started issuing cards with the EMV chips. Many other countries already use the Chip and Pin method as opposed to the U.S. who was using the Chip and Signature method.
“It’s worth pointing out how little protection the signatures actually provided. How often does the merchant check the signature to make sure it matches?” ValuePenguin credit card expert Robert Harrow said in an interview with Mic. “These chips are pretty complex, they’re encrypted, they make credit cards much harder to skim through credit card skimmers.”
Its worth noting that cards can still be “shimmed”, which allows fraudsters to copy your cards EMV info along with the standard credit info stored on the magnetic strip. The contactless tap-and-go are still considered much safer that inserting or swiping a card, as are services such as Apple or Samsung Pay.