April 2018 is just around the corner, so you want to make sure that your systems are ready to go for the chip card revolution.
By April 2018, purchasing by signature will be a thing of the past. Like dominoes falling one after another, the four major credit cards are letting go of the requirement for cardholders to provide a signature for purchases when using a chip-enabled card.
The paradigm shift has been prompted by recent leaps in credit card security and fraud protection, along with consumer trends such as the rise of mobile payments technology (e.g., Apple Pay), and of course the rapidly becoming ubiquitous chip card. The US is now quickly catching up to the rest of the world: chip cards have been in widespread use for over a decade in Europe, Russia, parts of Asia, and Australia.