KEYC - Why Credit Card Users Will Never Hear "Sign Here" Again

Why Credit Card Users Will Never Hear "Sign Here" Again

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MANKATO , MINN. -

For centuries, the signature was the gold standard when it comes to sealing the deal.

Fast forward a few hundred years and technology is making this hand written relic obsolete.  Algorithms are used to track where you like to shop and the cards themselves are smarter as well.
 
Jason Olson, a forensic accountant for Eide Bailly LLP, said:  "The chip has made a big difference with the cards, that's another fraud prevention measure.  It creates a unique code for every transaction, so it helps lessen the risk for a compromise from a credit card perspective."  

Target is no longer requiring signatures for any credit card purchases by the end of this week.  Walmart has not been recording them for some time now.

"Really the credit card receipts and the signatures were just used to identify the identity of the person making the purchase, but no one's using those anymore," Olson also mentioned.

The bottom line... there are so many methods out there to prove who you are, the old cursive signature is just not needed any more.
 

-KEYC News 12