Originally Posted by Jimmie76

I don't understand what extra security that chip and electronic signature offers over signing the merchant copy of the receipt. The chip authenticates the card and I totally understand how that helps prevent the use of cloned cards. But if you've lost your card and haven't either noticed it or have been unable to report it, then they can still use your card if they can forge your signature.

The merchant fees are going to have to be comparable with Mastercard/Visa for this Apple Pay, as the reason a lot of retailers I know in this country don't accept Amex is because of the high fees.