The card network said that eliminating the need for a signature will improve the speed of payment, thereby improving the merchant experience. Thus, Amex-accepting merchants globally will no longer have to collect signatures for any purchases at the point of sale.
Merchants, however, can continue to ask for signatures if they choose and they must also continue to collect signatures should a law in a particular jurisdiction require them to do so, according to Amex.
Amex had already eliminated the signature requirement in certain countries for purchases under a certain amount. For example, for transactions under USD 50 in the US, under CAD 100 in Canada and under GBP 30 in the UK.
In October 2017, Mastercard became the first network to announce it would eliminate signature requirements for transactions beginning of April 2018, according to Business Travel News. A Visa spokesperson told BTN that it has not changed its policy on signature requirements, nor did it have anything new to announce at this time, noting that more than 75% of in-store Visa transactions in North America today do not require a signature.
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