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Key Economic Indicators 
Item  Rate 
CPI: 0.1% (Sep 2018) 
GDP Growth:   4.2% (2nd QTR 2018)
Bank Prime Interest Rate:   5.25%
Consumer Confidence:  138.4% (Sep 2018) 
Small Biz Confidence:  107.9% (Sep 2018) 
Avg Gas Price:  $2.91 









Apr 2018


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Eliminating Credit Card Signature Requirement

Small businesses can benefit from the elimination of the signature requirement on credit card transactions.

Major credit card companies such as Visa, Discover, Mastercard and American Express are eliminating the requirement for a signature at the point of sale.

They are doing this because of the expanding adoption of the adoption of the EMV technology.  The data on the EMV technology has significantly increased the security of transactions.  Requiring the signature no longer adds to the security of transactions.

Small businesses will have the option to determine whether or not they want to require a signature.  In making that determination they should consider the following.


-Point of Sale System (POS):  Some POS merchants such as ShoopKeep and Square still require their clients to get the signature.  If you want to avoid this requirement find another POS merchant processor.


-Tips:  Some establishments noticed that customers donít want to leave a tip if they are not required to sign their bills.


-Competition:  If you do require a signature will your customers go to your competition where they can complete their transactions quicker?

These are the options from the major credit card companies.


-Visa: no signature optional for merchants in North America.


-Discover: no signatures optional for merchants in North America and the Caribbean.


-Mastercard: no-signature optional for merchants in the US and Canada.


-American Express: no-signature option for merchants worldwide.


American Express

By Bill Williams













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