From August 1, credit card holders will need to enter a four digit personal identification number (PIN) to complete a transaction, instead of signing.
While some overseas credit card users will still be given the option to use PIN or sign, so too will people with some disabilities, particularly dementia.
When Britain switched to chip and PIN in 2006, it retained signatures for some users.
"Right from the outset, disabled people who found it difficult to use Chip and PIN were able to request a Chip and Signature card from their bank. This still applies today," Richard Koch, Head of Policy at the UK Cards Association told SBS.
"Throughout the consultation process, many different disabled people and disabled people's groups actually fed back that they found entering a PIN more straightforward and accessible than signing to authorise a payment."
Here, the big four banks will retain an option of sign-only cards for people with special requirements including those with cognitive impairment.
Glenn Rees, CEO of Alzheimer's Australia welcomes the move and urges anyone affected to contact their bank.
"The most important thing at this stage is for customers to contact their financial institution via telephone or visit their local branch for further information about the sign only card."
He suggests customers ask the following of their financial institution:
· Do you provide a sign-only card option?
· How can I apply for a sign-only card?
· Can my sign-only card be used at an ATM?
· How long after requesting a sign-only card will I receive my new card?
· Will I need to update my recurring payments from my previous card?
