• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

Mastercard Abandons the Signature Ahead of Biometric Card Rollout

April 6, 2018

Mastercard is ready to follow through with its plan to phase out signatures for cardholder purchases. The company has announced that effective April 13th, it will no longer require signatures from merchants in the US and Canada.

Mastercard Abandons the Signature Ahead of Biometric Card Rollout

It’s not a huge shift. Even now, signatures are only required for under 20 percent of transaction in North America. But the move to completely abandon the requirement can be read as a symbolic gesture in acknowledgement of the ongoing digitization of payments.

It’s also an acknowledgement of the rapid evolution in payment security. In a statement announcing the change, Mastercard emphasized that it has implemented new security technologies over the past several years “including the successful chip migration, tokenization and biometrics as well as early detection systems to minimize the need for cardholder signatures in fraud prevention.” Signatures, in comparison, are pretty much useless.

The company also asserted that “contactless or tap-and-go payments are set to take off with a majority of new payment terminals equipped with the necessary hardware.” That trend will tie in with the company’s plans to launch biometric payment cards designed to scan a user’s fingerprint during a contactless transaction, bringing considerable security to the convenience and simplicity of tap-to-pay transactions.

Filed Under: Industry News

Related News & Articles

Verizon Partners With Deloitte on ‘Transformational’ 5G, IoT Solutions

Maxim Uses Xailient Neural Network to Improve Efficiency of Face Detection Cameras

New iPhones to Feature Face ID, Even Budget-Friendly LCD Model: Reports

Primary Sidebar

Register For the Next Virtual Identity Summit

Register now!

Tweets

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi’s product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • Kenya’s New President Pushes for Digital ID By Year’s End
  • MDL, Digital ID Gain Momentum in State Efforts
  • Brazil-based Selfie Onboarding Startup Reports 250% Sales Jump, Global Expansion
  • ‘All Partners Remain Committed’ to Digital Travel ID Project: Transport Canada
  • North Carolina DMV Seeks Political Support for MDL

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 MobileIDWorld