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American Express eliminating signature requirement post credit card purchases

American Express eliminating signature requirement post credit card purchases
Highlights

Multinational financial services corporation American Express has announced that its users will no longer be required to sign after making credit card purchases, starting April 2018.

New York [USA]: Multinational financial services corporation American Express has announced that its users will no longer be required to sign after making credit card purchases, starting April 2018.

The New-York based conglomerate is doing away with signatures globally, and just in the US, contrary to the current policy, reports The Verge.

The decision follows the advancement in fraud detection on the behalf of the company, which has led to the elimination of signatures to fight fraudulent activities.

Amex has also highlighted an improvement in contactless payments, rising popularity of online shopping, and the use of "advanced machine learning algorithms" to help prevent fraud more efficiently than comparing a signature, as noted by Jaromir Divilek, an executive VP at American Express.

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