Space Chief (Iron Sharp) JaneH • 14 hours ago The signatures are actually more card holder friendly than the PIN. The liability lies with the store unless they can prove the signature on that slip was yours. And if they lose that slip, they lose.
Mark Elliott, Division President for Mastercard ...
“Our technologies, processes, and expertise enable us to address threats while also enhancing the experience related to the payment device,” said Elliot.
“There are several scores of discrete checks and layers that we have put in place to protect the payments system, including the use of signatures, where necessary.”
In South Africa, however, merchants still need to support signatures as a cardholder verification method.
“Even though chip cards that require a PIN are dominant in South Africa, certain issuers still provide magstripe cards that require signature in some instances.”