Signature Optional! Visa continues improving the EMV Acceptance.
April 30, 2018
To continue the ongoing migration to EMV chip and to bring convenience along with increased security and speed to the point of sale, Visa is making the requirement to obtain and verify a cardholder signature optional for all EMV-enabled merchants in the U.S.1 and Canada, beginning 14 April 2018. At the same time, Visa is also removing the requirements for EMV-enabled merchants in the U.S. and Canada to keep transaction receipts and for acquirers to fulfill retrieval requests
From 14 April 2018, EMV-enabled merchants in the U.S. and Canada have the option to stop capturing signatures as a method of cardholder verification. Those same merchants will also no longer be required to retain and store transaction receipts.
Eligible merchants that elect to stop capturing a signature are able to do so for any transaction amount. The changes apply to all transactions at EMV-enabled merchant terminals, regardless of interface or whether the card is domestically or internationally issued.
For EMV-enabled merchants that prefer to continue to capture a signature as a method of cardholder verification or use a signature for ensuring the cardholder’s acceptance of additional terms and conditions of a sale , this announcement has no effect on cardholder verification methods. At the same time, they will not be required to retain and store those receipts.
Note: Non-EMV-enabled merchants must continue to follow existing acceptance practices regarding cardholder verification and receipt retention