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Mastercard scraps signature requirement

Restaurant servers will no longer have to ask guests paying with Mastercard to sign their receipts as of April 2018, a move intended to speed transactions.

The credit card giant revealed the change in policy on Friday, saying a signature no longer provides much additional security in an age of card-embedded chips and biometric verification. It also noted that 80% of Mastercard transactions are already completed without a signature, and noted that consumers had voiced a preference for skipping the custom in the remaining 20% for the sake of speed.

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The signature requirement will be dropped for both credit and debit cards, Mastercard said.

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