It’s hard to believe the entire banking system is held together by something as basic as a signature today. In fact, it isn’t held together very well. The United States is the last remaining country to have not adopted the EMV Chip and PIN standard, and thus still relies on signature at the Point-of-Sale. Which is why despite accounting for just 25% of all card transactions globally, the US has more than half the card fraud for the entire world — yes, that’s more than the rest of the world combined. The signature patently doesn’t work to stop card fraud.

https://medium.com/p/93b9aaac1772