Save Me Steve: Credit card signatures going away

The checkout lanes at your favorite stores should soon move more quickly, thanks to an industry move away from signing for purchases.

Major credit card companies Mastercard, Visa, American Express and Discover eliminated the need for shoppers to sign receipts for credit and debit sales earlier this month.  

That means most merchants in the U.S. or Canada can decide whether or not to require signatures. Some merchants have already ditched signatures for some purchases, but now the credit card companies are collectively ending requirements for customers’ autographs.

Mastercard was the first major credit card to announce plans to end signatures. Its own research found that “merchants and consumers would like to see payment process streamlined,” according to Linda Kirkpatrick, the executive vice president of Mastercard’s U.S. Market Development Division.

She said a majority of people believe it would be easier to pay and checkout lines would move faster if they didn’t sign when making purchases.

But what does that mean for your security? And what about at places like restaurants? Consumer reporter Steve Noviello answered some common questions on Good Day. He said, in reality, you may still be asked to sign for a while.