Credit card signatures to be phased out

THE days of signing for credit card purchases are numbered.

From August 1, Aussies will need to use a PIN for credit card purchases, with signatures set to be phased out.

In a bid to crack down on fraud, Australia’s card payments industry has moved to phase out signing to verify purchases from August 1 this year.


The changes will apply to all transactions over a point-of-sale terminal, but won’t affect online purchases.

Australian Retailers Association spokesman Russell Zimmerman said the move would make card payments safer.

“The phasing out of signature verification will help protect consumers and retailers alike from fraudsters,” he said.

Mr Zimmerman said Australian credit card fraud ran to about $81 million a year, most of it on credit cards where it wasn’t necessary to enter a PIN.

Gold Coasters who do not already have a PIN for their card are urged to get one before the August deadline, to avoid any problems during the transition.