Signing off: 4 reasons Mastercard says it’s killing your signature next week

05 Apr Signing off: 4 reasons Mastercard says it’s killing your signature next week

Let’s take a moment of silence to mourn the death of credit card signatures—or maybe let’s not, because everyone knows those illegible lines you scribble on paper receipts are functionally useless.

Mastercard realizes it, too, which is why the company announced back in October that it would stop requiring retailers to capture signatures at checkouts in the U.S. and Canada. The change goes into effect on April 13 (or “The Day the Signature Died,” as we assume it’s known in merchant circles), and to commemorate the occasion, Mastercard shared four reasons why it says consumers are on board with the plan. The insights below come from a representative survey of 1,108 adults commissioned by Mastercard.

• No one signs anything. Mastercard says 17% of survey respondents couldn’t remember the last time they signed anything that wasn’t a sales receipt.
• Seriously, no one signs anything. More than half of consumers surveyed said they only sign their names a few times or less per month, not counting sales receipts.
• Everyone hates that jerk in the checkout line. Per the survey, 72% said they get annoyed when they have to wait too long for the person in front of them to complete a transaction. (Count me in that group.)
• Keeping the kids happy: Consumers in the 18-34 range are nearly two times more likely to dislike writing in script.

Mastercard says merchants in the U.S. and Canada can decide when to implement it. How’s now? Does now work for you?

Source: Fast Company