This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. For an explanation of our Advertising Policy, visit this page.
One of the world’s largest credit card issuers is doing away with what was once a hallmark of the credit card experience. Monday, American Express announced that it would be eliminating signature requirements from its cards globally. Starting April 2018, whenever an Amex customer swipes their card, they will no longer need to sign a receipt for the merchant.
Amex says signatures, originally a way to fight fraud, have become irrelevant to credit card security.
“The payments landscape has evolved to the point where we can now eliminate this pain point for our merchants,” said Jaromir Divilek, an Amex EVP, in a statement. “Our fraud capabilities have advanced so that signatures are no longer necessary to fight fraud. In addition, the majority of American Express transactions today already do not require a signature at the point of sale as a result of previous policy changes we made to help our merchants.”
Advances in technology like chip, contactless payments (i.e. Apple Pay) and more people shopping online were a few of the reasons for the policy change.
In October Mastercard said it would be doing away with the signature requirement, and just days ago Discover said it was doing the same. Amex had already dropped signatures for transactions under $50. Merchants will still have the ability to accept a signature, especially since it’s required by law in some places.
Visa is now the last major credit card company to require signatures for in-person purchases.
Featured image by Tetra Image / Getty Images.
Know before you go.
News and deals straight to your inbox every day.
WELCOME OFFER: 60,000 Points Terms Apply.
TPG'S BONUS VALUATION*: $1,200
CARD HIGHLIGHTS: Delta Sky Club and Centurion lounge access, $200 annual airline fee credit and up to $200 in Uber credits annually
*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.
- Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
- Enjoy Uber VIP status and free rides in the U.S. up to $15 each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings.
- 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel.
- 5X Membership Rewards points on prepaid hotels booked on amextravel.com.
- Enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
- Receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts. Learn More.
- $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline.
- Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card®. Enrollment required.
- $550 annual fee.
- Terms Apply.
- See Rates & Fees