Jaromir Divilek, executive vice president of American Express global network business, said:
The payment industry has grown to the point where it helps merchants eliminate pain points and our anti-fraud capabilities have improved so much that signature is no longer a necessary tool.
In addition, most of our transactions today do not need to be signed in the POS terminal, the policy has been adjusted before the business has provided some help.
As with other credit card companies, Express has long implemented a visa-free policy for transactions below $ 50 in the United States. The complete abandonment of the signature will obviously be welcomed by more people.
It is worth mentioning that the popularization of non-contact payment such as Apple Pay and other credit card companies to sign-off also has a great role in promoting. However, in markets such as Canada, large-sum transactions are still not possible through contactless payments.