American Express to Provide Additional Flexibility to Merchants By Eliminating Signature Requirements Worldwide
December 11 2017 - 9:00AM
Business Wire
American Express Is First Payment Network To
Make Signatures Optional In All Global Regions
American Express (NYSE: AXP) today announced it is eliminating
the requirement for merchants to collect Card Members’ signatures
for all purchase transactions at the point of sale beginning in
April 2018. The move, which applies globally to all American
Express-accepting merchants, will help provide a more consistent
and simplified checkout experience for merchants and Card Members
in regions around the world, speed up the process of paying in
store and help reduce merchants’ operating expenses associated with
retaining signatures.
“The payments landscape has evolved to the point where we can
now eliminate this pain point for our merchants,” said Jaromir
Divilek, Executive Vice President, Global Network Business,
American Express. “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.”
The need for signatures has declined around the world due to a
number of advancements in the payments industry. These include the
growth of contactless payment options, including card-based and
mobile tap-and-pay methods, the global adoption of EMV chip
technology, and the continued expansion of online commerce.
American Express has also deployed advanced machine learning
algorithms that allow for more precise detection of fraud while
minimizing disruption of Card Members’ genuine spending.
The elimination of American Express’ signature requirements will
apply to purchase transactions of all amounts at the point of sale.
American Express is the first payment network to announce this
change globally, expanding previous policy changes it has made in
various regions. For example, American Express has already
eliminated signature requirements for transactions at the checkout
that are under $50 in the U.S., under $100 CAD in Canada, and under
£30 in the U.K. In regions outside the U.S. where signatures are
already less common, this change can help provide a more consistent
checkout experience for Card Members traveling from countries where
signatures are more common. Once this change takes effect in April
2018, merchants will still have the option to collect Card Members’
signatures at the point of sale if they choose to do so, and must
continue to collect signatures if they are required to do so by
applicable law in a particular jurisdiction.
The Merchant Advisory Group, an organization that represents
many large merchants on payments-related topics, believes American
Express’ decision will make the checkout process more efficient for
merchants and their customers, said Laura Townsend, Senior Vice
President of Operations for the group.
“We commend American Express’ decision to eliminate signature
requirements,” Townsend said. “This move will help merchants
provide a quicker check-out experience for more customers by
removing potential friction at the point of sale.”
Mike Cook, Senior Vice President and Assistant Treasurer at
Wal-Mart Stores Inc., said American Express’ decision provides
greater flexibility to merchants as they experiment with and adopt
new technology to provide customers with a faster and more
convenient shopping experience.
“The introduction of our Walmart Pay mobile app has raised our
customers’ expectations for being able to check out quickly and
easily,” Cook said. “Having to sign a receipt can be a hassle for
customers and is not necessary to prevent fraud at the point of
sale. We’re pleased American Express has decided to eliminate its
signature requirements, which will promote a more seamless shopping
and checkout experience for our customers.”
Providing merchants the option to no longer collect signatures
is one of several changes American Express has made in recent years
to provide an improved experience for merchants. Other adjustments
include increasing speed of payment for eligible small merchants
and adjusting dispute policies to provide American Express
merchants with a more consistent experience across all card brands
that they accept.
Merchants may visit www.americanexpress.com/merchant for more
information.
About American Express
American Express is a global services company, providing
customers with access to products, insights and experiences that
enrich lives and build business success. Learn more at
americanexpress.com and connect with us on
facebook.com/americanexpress, instagram.com/americanexpress,
linkedin.com/company/american-express, twitter.com/americanexpress,
and youtube.com/americanexpress.
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American ExpressAndrew Johnson,
212-640-8610andrew.r.johnson@aexp.com
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