What happens if I don’t sign my card?
From January to December of last year, about 4,106 million card payments were made in physical and electronic purchases, the operations in the latter represented 20.3% of the total, according to data from the Bank of Mexico (Banxico) that Condusef took up.
In the same period there were a total of 4,973 claims regarding unrecognized consumption (unrecognized charges) in purchases via the Internet, with 52.5% with a favorable resolution; BBVA, Citibanamex, Banorte, Bancoppel and Banco Azteca were the five entities that headed the list, detailed the National Commission for the Defense of Users of Financial Services.
Thanks to technology, it is now possible to make card payments without stamping your autograph signature, using the PIN as a signature or with technology contactless or contactless payment.
“Even for security, it is no longer so necessary that you bring the card signed, because if they steal your wallet or the card they have access to your signature,” said Ruiz from BX+.
The PIN, the four digits with which you make withdrawals from the ATM, is only known by the cardholder, adds the specialist.
If you do not remember the personal identification number, do not worry as you have three attempts with VISA and five with Mastarcard to enter it. If you don’t enter the correct one, it will be blocked. To unlock it, says Citibanamex, you will have to go to a branch to request the PIN change.
With contactless payments, the card or device (smartphone or smartwatch) never leaves your hand, reducing the risk of loss or counterfeiting, and each purchase is uniquely encrypted, Mastercard notes on its website.
For online purchases, Adolfo Ruiz recalled, now it is also possible to pay with digital cards, using a provisional CVV each time you make a purchase.
Eye! Each digital card has a short lifespan, up to 10 minutes, depending on the institution that issues it, and it can only be used once. If you are going to make purchases in different places – shops or market places – you will have to request a digital card per operation.
However, some establishments have a policy not to accept a card if it is not signed, a practice that is less and less common.
With the use of biometric data, it is possible that in the very near future “we will say goodbye to (physical) cards, that is where we are headed. There are even ATMs with which you can withdraw with your fingerprint”, concluded Adolfo Ruiz.