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. 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?

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