Since more consumers are using a credit card to make minor purchases (individual transactions totaling less than $25), Visa Card is pushing merchants to allow purchases without requiring a signature.
More and more major U.S. retailers are accepting the Visa card, No Signature Required Program, which offers card holders the ability to make small purchases without having to place their signature on a receipt.
Visa's No Signature Required Program was designed to accelerate Visa acceptance and card usage at traditionally cash-heavy merchants, and to offer card holders a quick swipe and go option.
Visa launched the no signature program in response to a growing number of consumers who use a credit card for small purchase amounts.
During the first six months, volume of purchases less than $25 reached $27.3 billion. An April Visa survey revealed 45% of consumers stated they use their credit cards for small ticket purchases more frequently than they did three years ago.
The reasons for using a credit card for small purchases:
Convenience (73%)
Efficiency (44%)
Speed (39%)
Millions of Visa card holders are increasingly turning to their payment cards for everyday purchases. Last year, more than $49 billion in small ticket purchases less than $25 were made on Visa cards. Visa estimates by the end of this year, as much as 27% of all Visa transactions may qualify for Visa's No Signature Required Program.
Apply for a Visa Credit Card at Credit Federal.
