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Analysis: Credit Card Signatures Are About to Become Extinct in the U.S. - ABI

Credit card networks are finally ready to concede what has been obvious to shoppers and merchants for years: Signatures are not a useful way to prove someone’s identity. Later this month, four of the largest networks — American Express, Discover, Mastercard and Visa — will stop requiring them to complete card transactions, the New York Times reported. The signature, a centuries-old way of verifying identity, is rapidly going extinct. Personal checks are anachronisms. Pen-and-ink letters are scarce. When credit card signatures disappear, handwritten authentications will be relegated to a few special circumstances, like sealing a big transaction like a house purchase. Card signatures won’t vanish overnight. The change is optional, leaving retailers to decide whether they want to stop collecting signatures.

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