In response to news that Mastercard will be ending signature verification at the checkout, RILA's Vice President of Government Affairs Austen Jensen issued the following statement.
"Mastercard's decision to end signature verification acknowledges what retailers have long-argued, that signatures are a costly yet feeble means of securing transactions. RILA supports this policy change and encourages other payment networks to follow Mastercard's lead. Going forward, the payment industry needs to focus on finding solutions to the growth of fraud both in stores and online, where current measures are inadequate for protecting consumers and merchants."
RILA is the trade association of the worlds largest and most innovative retail companies. RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs, and more than 100,000 stores, manufacturing facilities, and distribution centers domestically and abroad.