Visa International said that by mid-June, United Overseas Bank will introduce a signature-based option for Visa Electron transactions in Singapore.
The Electron version of the Visa debit card, which had been available through the NETS electronic banking cooperative, required personal identification numbers to be entered at merchant locations.
The move to signature identification by United Overseas Bank broadens the acceptance of the card. "UOB joins 40 other members in six markets in the Asia-Pacific region in capitalizing on the ubiquitous signature-based acceptance infrastructure," said Douglas Lawson, director of deposit access in the region for Visa International.
"Because Visa Electron combines widespread point of sale and automated teller machine access under a single acceptance mark, it offers unsurpassed acceptance, convenience, and versatility," said June Seah, Visa's country manager for Singapore.
Visa said 71 million Electron cards have been issued in 60 countries and are accepted at eight million point of sale terminals and 490,000 ATMs.