NEW YORK – Even as American consumers, banks and retailers prepare for this fall’s EMV rollout, banks continue to ask customers “to scrawl signatures on receipts” to authenticate transactions instead of entering personal identification numbers, according to a recent report from Market Watch.

While EMV-enabled cards, which store data on a microchip rather than a magnetic stripe and produce unique codes for each transaction, have been touted as a solution to credit card fraud, U.S. banks are not implementing the necessary second layer of security — asking cardholders to enter PIN numbers instead of signatures . For additional background, read the NACS Magazine article, “Half Covered.”

According to Market Watch, signatures pose obvious problems as forgery is difficult to verify on-site, and is primarily used in instances where a consumer reports what they think is a fraudulent charge. The report says banks have told news outlets they don’t want to burden customers with having to remember a new four-digit code while also adjusting to the new “insert” technology associated with EMV-enabled cards, compared to the typical “swipe.”