On transactions over 50 usd they sometimes ask me for my signature. I think that will cease after the payment systems refine their input to the devices.
We'd have to have a fundamental shift away from signatures in the US.
As long as the CC networks / acquirers require signatures for plastic cards, I think they'll continue to require them for contactless payment methods as well.
Right. I think Apple Pay will be more streamlined as a whole once EMV is finished rolling out. Don't forget that your phone has CVMs like a regular chip card.
That's correct. And from what people have posted from the results of card scan tools, the cards that are registered in Apple Pay usually have the same CVM list and limits (cardholder verification methods, for new readers) as if you owned a physical contactless version of the card. Which makes sense, as NFC payments emulate a contactless card.
E.g. Amex appears as if you got an ExpressPay, a Visa as PayWave, a MC as PayPass.
Most virtual cards allow a CVM of no verification below a certain amount. This of course is done to encourage spending and speed up checkouts. The virtual cards might or might not also allow PIN authentication, just as your physical card might or might not support it for use overseas.
Naturally, if your purchase is above either the card's or merchant/acquirer's preset limit, you'll still need to enter a signature or PIN.
As a side note, it seems that many US merchant terminals aren't set up for EMV yet, so Apple Pay / Google Wallet payments fall back on MSD (magnetic stripe data) mode in those cases... with the CVM decided totally by the terminal.
Will it work if you run as debit? I have only gotten credit to work, I can use my debit cars, though can only run as credit with them. (Some retailers have this problem)
