Mastercard Getting Rid of Signatures for Credit/Debit Payments

In an age when credit and debit cards have smart chips inside them to provide an added layer of security, signing for a purchase feels somewhat antiquated.

A signature is, of course, not needed for online or mobile payment. But if you use your credit card in a brick-and-mortar store, you often still have to sign on the dotted line.

Mastercard (NYSE: MA), however, plans to end that practice. The credit card company said in a Web post that while 80% of in-store transactions with its cards currently do not require a signature, that number could reach 100% by April 2018.

Source: Fool.com