Earlier today, the US Department of Justice and Visa announced that Visa agreed to changing its operating rules to allow PIN-based debit transactions on small purchases without requiring cardholders to enter their PINs. Issuers will now have the choice on whether they will require a PIN for purchases under $25.00.

As a result, the Justice Department dropped an antitrust investigation of Visa and the PIN requirement.

Visa has allowed banks to permit merchants to waive the signature requirement when customers use Visa debit cards, usually on small purchases below $25, the department said. But Visa has prohibited banks from allowing merchants to waive the entry of a PIN if a customer chooses that route.

Visa said it is ending the prohibition on waiving PINs effective Tuesday.

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US Department of Justice Announcement.

AP Article