RIVERWOODS, Ill.--(BUSINESS WIRE)--
Beginning in April 2018, Discover will no longer require signatures at
the point of sale for credit and debit transactions on the Discover
Global Network in the United States, Canada, Mexico and the Caribbean.
The change is part of Discover’s efforts to continually improve the
payment experience by speeding up the time spent at checkout all while
maintaining a high level of security for both customers and merchants.
Discover has already implemented a number of digital authentication
technologies such as tokenization, multi-factor authentication, and
biometrics that are more secure than requiring a signature and provide a
more seamless payment transaction.
“As the payments industry continues to evolve and introduce new methods
of transacting, we’re making sure that Discover is providing customers
and merchants with a smooth and more secure payments experience,” said
Jasma Ghai, vice president of Global Products Innovation at Discover.
“With the rise in new payment security capabilities, like chip
technology and tokenization, the time is right to remove this step from
the checkout experience.”
Merchants interested in no longer requiring a signature for Discover
Global Network transactions may need to update their point of sale
systems.
Some additional safety and security features from Discover include:
-
Chip technology in cards that, among other security features, helps
prevent card cloning by validating that it is genuine every time it is
used
-
Discover® Digital Exchange that manages payment credentials on mobile
and digital devices, and enables tokenization to secure the transaction
-
For credit cardmembers who activate, Discover will monitor thousands
of risky websites and alert Discover cardmembers if their Social
Security number is found, or if any new accounts are opened on their
Experian® credit report1
-
Freeze It®, which enables cardmembers to freeze their
Discover card account in a matter of seconds to prevent new purchases
if they misplace their card
-
Monitoring of every Discover card purchase every day for every customer
-
$0 Fraud Liability Guarantee on unauthorized purchases made with a
Discover card
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and payment
services company with one of the most recognized brands in U.S.
financial services. Since its inception in 1986, the company has become
one of the largest card issuers in the United States. The company issues
the Discover card, America's cash rewards pioneer, and offers private
student loans, personal loans, home equity loans, checking and savings
accounts and certificates of deposit through its direct banking
business. It operates the Discover Network, with millions of merchant
and cash access locations; PULSE, one of the nation's leading ATM/debit
networks; and Diners Club International, a global payments network with
acceptance in more than 185 countries and territories. For more
information, visit www.discover.com/company.
1Discover® Identity Alerts are offered by Discover Bank at no
cost, only available online, and currently include the following
services: (a) daily monitoring of your Experian® credit report and an
alert when a new account is listed on your report; (b) daily monitoring
of thousands of risky websites known for revealing personal information
and an alert if your Social Security Number on is found on such a
website. This information is intended for, and only provided to, Primary
credit cardmembers whose accounts are open, in good standing and have an
email address on file. The Primary cardmember must agree online to
receive identity alerts. Identity alert services are based on Experian
information and data which may differ from information and data at other
credit bureaus. Monitoring your credit report does not impact your
credit score. This benefit may change or end in the future. Discover
Bank is not a credit repair organization as defined under federal or
state law, including the Credit Repair Organizations Act. To see a list
of Frequently Asked Questions, visit discover.com/freealerts.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171206005302/en/
Source: Discover Financial Services