Visa to Offer 'No Signature' Programme to US Merchant Categories
Visa will offer its ‘No Signature Required’ (NSR) programme to the majority of merchant categories in the US beginning in July 2010, making the switch to Visa digital currency more compelling.
Under the new expanded programme, for domestic transactions of US$25 and less, retailers can accept US-issued Visa cards for purchases without requiring a cardholder signature; this programme has the potential to increase speed at the point of sale (POS) and enhance customer satisfaction.
“Visa’s No Signature Required programme has been enormously popular with Visa cardholders and merchants in busy retail environments like quick service restaurants and coffee shops,” said Bill Sheedy, president, the Americas, Visa. “Innovation comes in many forms and enabling Visa cardholders to swipe their card and go at most US retailers is a small, but significant, advance in the ongoing migration to digital currency.”
With these changes, approximately 98% of all US merchant category codes in the Visa system will be covered by the NSR programme.
Currently 26 merchant categories are eligible for NSR in the US, including: auto parking lots and garages; bakeries; book stores; bus lines; candy, nut and confectionary stores; car washes; dairy stores; drug stores and pharmacies; dry cleaners; fast food restaurants; laundries; local commuter transport; miscellaneous food stores; motion picture theatres; news dealers and newsstands; quick copy services; restaurants; service stations; taxicabs and limousines; tolls and bridges and video rental stores.