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US Payments Forum Provides Best Practices for Capturing, Storing Signatures for In-store EMV Transactions

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  • US Payments Forum Provides Best Practices for Capturing, Storing Signatures for In-store EMV Transactions
US Payments Forum Provides Best Practices for Capturing, Storing Signatures for In-store EMV Transactions

Princeton Junction, N.J., July 10, 2018 – There are written requirements, recommendations and guidelines regarding signature storage and capture for certain EMV chip payment transactions in the U.S. The U.S. Payments Forum has released a white paper to help stakeholders better understand the requirements and recommendations as they exist today, and to provide best practices on capturing and storing signatures.

The white paper, “Signature Best Practices,” can be downloaded at http://www.uspaymentsforum.org/signature-best-practices/.

“Each payment network, acquirer processor and various other industry stakeholders have provided input and guidance on how to manage signatures for in-store chip card transactions. And on top of that, the payment networks have made changes over the past year to their signature requirements as they relate to cardholder verification,” said Randy Vanderhoof, director of the U.S. Payments Forum. “This resource, created by a cross-industry group of stakeholders within our membership, provides clarity and best practices for those with in-store transaction environments.”

For merchants, acquirer processors and payment networks, the white paper provides:

  • Signature recommendations by payment network for card-present transactions
  • Considerations with signature by payment network, including the impact of signature with contact/contactless transactions, transaction amount, cash back, merchant category codes, entry capability and geographic applicability
  • Potential impacts to chargebacks, if any

The U.S. Payments Forum Communications and Education Working Committee developed this educational resource by compiling data from several sources, including Forum members, issuers, acquirer processors, merchants, payment networks and EMV specifications.

Payments industry stakeholders looking for additional guidance on the U.S. EMV migration should visit www.emv-connection.com for more resources.

Organizations, associations, government agencies and individuals interested in participating in projects to support the introduction of new and emerging payments technologies in the U.S. are invited to join the U.S. Payments Forum. For membership information, visit http://www.uspaymentsforum.org/membership/membership-application/.

About the U.S. Payments Forum

The U.S. Payments Forum is a cross-industry body focused on supporting the introduction and implementation of new and emerging technologies that protect the security of, and enhance opportunities for payment transactions within the U.S. The Forum is the only non-profit organization whose membership includes the whole payments ecosystem, ensuring that all stakeholders have the opportunity to coordinate, cooperate on, and have a voice in the future of the U.S. payments industry.

Contact

Megan Shamas or Adrian Loth
Montner Tech PR
203-226-9290
[email protected]
[email protected]

 

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About the U.S. Payments Forum

The U.S. Payments Forum is a cross-industry body focused on addressing issues that require broad cooperation and coordination across many constituents in the payments industry. The Forum is an affiliated organization of the Secure Technology Alliance, founded in August 2012 as the EMV Migration Forum, and renamed in the U.S. Payments Forum in 2016 to include other new and emerging payments technologies in the United States.

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ICYMI: We released a Market Snapshot last week that covers the state of the market, trending industry topics, curre… https://t.co/iABaQ6IkT9
Dec 18, 2020
Read this article from @payments_source to learn more about our new executive director, Jason Bohrer and how he wil… https://t.co/VoKgnJ1Plt
Dec 16, 2020
We’re pleased to welcome Jason Bohrer, our new director! Jason is joining us as our director of 18 years, Randy Van… https://t.co/tljRjC0Hqm
Dec 15, 2020
We just released our latest Market Snapshot looking into the state of the industry! Read it here to learn about the… https://t.co/Bai47H4n9z
Dec 08, 2020
We have hosted webinars on #EMV issuance, #chip education, CNP #fraud and more. The recordings of these webinars ar… https://t.co/Xj5GvJjErb
Dec 04, 2020

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Members of the media interested in learning about and accurately reporting on current and emerging payments technologies in the U.S., such as EMV, tokenization, encryption, and mobile and contactless payments, should visit our Media Resources page.

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