Consumer Payment Card News

No-Signature Required

Just in time for summer vacations, Visa debit card users will be able to take advantage of the ” No-Signature Required” feature for purchases of $25.00 and less. Approximately 98% of all U.S.merchant category codes in the Visa system will be covered by the No Signature Required program. Currently 26 merchant categories are eligible for No Signature Required in the U.S. They include: auto parking lots and garages; bakeries; book stores; bus lines; candy, nut and confectionary stores; car washes; dairy stores; drug stores and pharmacies; dry cleaners; fast food restaurants; laundries; local commuter transport; miscellaneous food stores; motion picture theaters; news dealers and newsstands; quick copy services; restaurants; service stations; taxicabs and limousines; tolls and bridges and video rental stores. Offering the No Signature Required program will allow hundreds of thousands more U.S. retailers, including traditionally cash-heavy
merchants such as discount stores, to enjoy greater benefit from card acceptance on low dollar transactions. These benefits include the potential for faster payment, increased sales and operating efficiencies they don’t get from cash and checks.

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