Sign no more

Visa has announced that, from 1 April 2013, all Visa card transactions will need to be approved using a PIN number, so signing for your purchases will no longer be possible.

Visa has announced that, from 1 April 2013, all Visa card transactions will need to be approved using a PIN number, so signing for your purchases will no longer be possible. This is in an attempt to reduce signature-based credit card fraud, which has been on the rise for the last few years.

Visa will be contacting its customers to ensure they know what their PIN is and how it should be used. MasterCard and American Express have not announced this transition to PIN only credit cards, but surely this is only a matter of time.

The change will also affect more than 14,000 cafes and restaurants, as customers will no longer be able to sign for the bill. Instead restaurants and cafes will need to purchase portable EFTPOS machines to bring to tables, or customers will have to get up and pay at the cash register.

Would you consider leaving Visa if it meant you could still sign for your purchases? Or do you think the extra security is a good idea?





    COMMENTS

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    Gooch
    6th Nov 2012
    2:12pm
    A good idea. One which I have been doing since the chip went into my card, but it still isn't a perfect solution because with a portable EFTPOS how will one know if it has a scammer shield over it or not, like at some ATM's
    lasaboy
    6th Nov 2012
    2:42pm
    no signatures is a good idea, but the practice they are using of no pin needed if the purchase is under $100 is a joke, if someone got hold of my card they could max it in no time at one store 20 times, without ever using a pin number, I would like to know who is responsible for the money then
    BigNev
    7th Nov 2012
    4:12pm
    It is a good idea, BUT I prefer to enter my pin for ALL PURCHASES and not have smaller amounts processed without either signature or a pin. THIS IS A CHANGE INTRODUCED RECENTLY WITHOUT ANY FANFARE.
    cookie
    7th Nov 2012
    5:41pm
    I never put my signature on any of my cards... in bold letters with pen that can not be rubbed off... texter that is used on DVD & CD ... I put ... pin only... ID required...
    lasaboy
    7th Nov 2012
    7:14pm
    Cookie, a 'good idea' but the shop keepers do not need to adhere to it