Chip and signature

Debit and credit cards based on EMV technology are either Chip and PIN or just Chip and Signature. The EMV cards that require a signature as the primary, preferred, or only customer verification method (CVM) can be classified as Chip and Signature.

These cards can be signature-only or prefer signature over PIN in their CVM list (i.e., signature at the point of sale (POS), but PIN at unattended terminals or ATMs). These are often called "chip and signature" cards.^[1]

Signature-only cards will not work in POS that allow no CVM other than PIN, such as some unattended ticket kiosks in Europe,^[1] whereas signature-preferring cards might work. Attended POS which are staffed by merchant personnel are required by the credit card agreement to accept magnetic stripe cards, as well as chip and signature cards; however, difficulties are often encountered.^[1]

As of 2015, chip and signature cards are more common in the US, Mexico and some European countries (such as Germany and Austria), whereas chip and PIN cards are more common in other European countries (e.g., the UK, Ireland, France, Finland and the Netherlands) as well as in Canada, Australia and New Zealand.^[1]

Also as of 2015 in the United States, Chip and PIN cards and terminals are finally being widely phased in while the old magnetic stripe technology and Chip and signature cards are being phased out.^[2] Most US retailers are expected to adopt Chip and PIN by October, 2015 when card companies will shift liability for fraud on signature-based transactions over to the retailers if they haven’t implemented the PIN based technology by then.^[2]

Neither Chip and PIN nor Chip and Signature cards are RFID sensitive and should not be confused with those Contactless payment technologies.

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