A John Hancock is more than just a person

As a merchant you are on the front line of the war against identity theft. When processing a transaction, there’s probably one thing that you or your employees are not doing. Are you checking the signature strip on the back?
If you have upgraded to a new EMV terminal you have nothing to worry about, since the liability shift, to you the merchant, has occurred already. Keep in mind, if you haven’t and someone uses a card fraudulently at your place of business, then you are on the hook.
Every card has a signature strip on the back. It is important that the card holder sign the card immediately upon receiving it. If it isn’t signed and the card is lost there is nothing to prevent a thief from using the card with impunity. Most card issuers don’t recommend asking for ID but do recommend that the merchant check the signature provided with the signature on the back of the card. ID should be checked if the signature does not match or if the card is unsigned. Fraud can be stopped right there.
Technically, an unsigned card is invalid but many merchants don’t even check it, so it goes undiscovered. Thieves take advantage of this fact. Busy merchants may not have time to check for ID, much less if the card is signed and they want to make as many sales as possible.
There are some customers who do something different. Seeking to avoid identity theft they write “See ID” on the back of the card, or just simply black the space out. This forces a merchant who is paying attention to the signature strip to check for ID. It seems that very few do. Just remember though, if you have not upgraded to the new EMV POS terminals you are on the hook for any fraudulent charges that occur. Upgrade now!