Visa Inc.’s announcement this week that starting this summer it will no longer require signatures for transactions of $25 or less at most U.S. merchants heralds a policy that will result in faster and smoother transactions but could also undermine the payments industry’s move toward contactless technology.
“The merchant proposition [for contactless] is pretty much negated at this point,” says Nick Holland, a senior analyst at Boston-based Aite Group LLC who has closely followed contactless payments. (Digital Transactions)
