Spotlight on Associates Credit Cards: Signature or


No Signature? That is the Question by: Fair Payment Processing by UMS Banking


That is the question! Well, there is good news on this for


all merchants. In April, 2018, Visa, MasterCard, American Express and


Discover made the signature requirement optional for all chip enabled businesses. What does this mean?


It means that if you have a machine that takes chip


cards (which most people do by now), and if the card run is a chip card (which is most cards at this point), you don’t need to get a customer signature on the sale. This applies to any amount of transaction.


All good and well, but how does that help your business?


Well, it can help in a couple of ways: 1) If you have lines building, you don’t have to wait for


that receipt to print. This can translate to fewer lost cus- tomers due to waiting in line, which is good for business. 2) You can process your customer’s orders faster and


make more money in that all-important peak fair time. It’s completely up to you as to whether you want to do


this. You can still get signature and print receipts if you wish to do so.


Some merchants may be concerned about a sale that is


contested by the cardholder (also called a chargeback). In the past, not having a signed receipt affected the outcome of a dispute. This is no longer the case. With chip card transactions, a cardholder signature is no longer required for proof of card presence to dispute these.


If you have question on this, please feel free to contact


us. We know that taking credit cards is important to your business, but not something that you want to spend a lot of time on. We’re here to help you in any way we can.


FAIRCRACKER-FALL 2018


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