Payments News

Many Merchants Expected To Erase Signature Requirements From Their Checkout Counters

Apr 06, 2018

Payment card networks and merchant acquirers still don’t have a solid read about how many merchants will take advantage of the networks’ new signature-optional policies that take effect this month. A merchant trade group, however, expects more than half of its members will cease requiring cardholder signatures at the point of sale.

Mark Horwedel, chief executive of the Minneapolis-based Merchant Advisory Group, an association of large merchants concerned with payments issues, says about 85 members representing half of U.S. card purchases were polled about signatures at MAG’s annual conference in February. MAG members generate more than $3 trillion in annual sales.

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