Visa Waives Signatures On SmallPurchases

Register now

SAN FRANCISCO - (04/11/06) -- Visa USA announced Monday it will nolonger require its cardholders to sign their names for purchasesunder $25. Visa previously offered the plan at selected stores,like Starbucks, but has expanded it across 17 merchant categories,including drugstores, taxis, news stands and fast food restaurants.The move is aimed at speeding up purchases at the checkout counter.Visa said it agreed to expand the program after a pilot showed noincrease in fraud. Both MasterCard and American Express offer thesame plan.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER