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MasterCard to Stop Requiring Signatures

Frequent Contributor

MasterCard to Stop Requiring Signatures

5 REPLIES
Established Contributor

Re: MasterCard to Stop Requiring Signatures

I suspect there isn't any desire by any major banks in the US to ever adopt PIN. At least we're acknowledging that signatures are kind of a waste of time and effort, so progress?

Super Contributor

Re: MasterCard to Stop Requiring Signatures


tmiw wrote:

I suspect there isn't any desire by any major banks in the US to ever adopt PIN. At least we're acknowledging that signatures are kind of a waste of time and effort, so progress?


My real concern about the true "Chip & Pin" in the United States is opening the flood gates and holding the cardholder responsible for any fraud or improper transactions. It would only go along with sticking the card holder and letting the financial institutions off the hook. Understand in other parts of the world where there is a true chip and pin process the liability shifts to the card holder.

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Established Contributor

Re: MasterCard to Stop Requiring Signatures


Dinosaur wrote:

tmiw wrote:

I suspect there isn't any desire by any major banks in the US to ever adopt PIN. At least we're acknowledging that signatures are kind of a waste of time and effort, so progress?


My real concern about the true "Chip & Pin" in the United States is opening the flood gates and holding the cardholder responsible for any fraud or improper transactions. It would only go along with sticking the card holder and letting the financial institutions off the hook. Understand in other parts of the world where there is a true chip and pin process the liability shifts to the card holder.


I doubt that'd happen with the way our laws are currently set up. Also, I believe the UK at least now has similar laws to us in that regard, so banks there aren't allowed to make the cardholders liable.

Established Contributor

Re: MasterCard to Stop Requiring Signatures

 I recently tried to put a travel advisory on my Cap1 Venture.  When you try to that on the website, they come back with {paraphrasing} "Your card has Chip technology, so when your card is used, we know its you.  There's no need to let us know when you're traveling."

 

 Doesn't really inspire me with confidence... Especially since my wife just had her (chip) Chase card compromised with an IN PERSON swipe at Jack in the Box in California (we live in Wisconsin).

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Frequent Contributor

Re: MasterCard to Stop Requiring Signatures


Dalmus wrote:

 I recently tried to put a travel advisory on my Cap1 Venture.  When you try to that on the website, they come back with {paraphrasing} "Your card has Chip technology, so when your card is used, we know its you.  There's no need to let us know when you're traveling."

 

 Doesn't really inspire me with confidence... Especially since my wife just had her (chip) Chase card compromised with an IN PERSON swipe at Jack in the Box in California (we live in Wisconsin).


And then Cap1 sends you an email saying you have to validate a purchase or they will freeze your card because it's outside of your normal territory.

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