Petal gets $13 million to build a credit card for those without a credit history

 You might be enjoying the benefits of a credit card with robust rewards today, but odds are when you were first getting started, it was hard to get even close to a card like that. That’s because, for those just getting started or who have a poor credit history, those cards are generally out of reach — and a lot of them are, Petal co-founder Jason Gross said. That’s why he… Read More

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American Express finally ditches the need for signatures with its credit card

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Like MasterCard and Discover before it, American Express is eliminating signatures for all credit card purchases.

The company announced Monday that merchants won’t need customers to sign for anything starting in April 2018. This affects all shoppers everywhere around the world where American Express is accepted. 

The payment process has outgrown signatures as a security measure — American Express credited contactless pay options, chip technology, and way more online shopping as big reasons to ditch the signatures. Plus, American Express and other card companies have many other methods to detect fraud. Read more…

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Discover won’t force you to sign for purchases anymore

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Forget signing your name on credit and debit card purchases with Discover.

Starting in April, the credit card company won’t require a signature after buying something in the U.S., Canada, Mexico, and Caribbean.

Chip technology — along with biometrics and multi-factor authentication — has made signing a receipt a redundant security measureMasterCard announced it was ditching signatures back in October. 

Discover said the change may require some merchants to change their Discover point-of-sales systems since pens and electronic signature screens won’t be necessary. Read more…

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