This is actually sensible, since it shifts the responsibility for verifying the customer's identity onto the merchant, and lets merchants figure out exactly how much trouble they want to go to in order to do this. Some places will demand a photo ID to go along with your credit card transaction. On the other hand, some places like Starbucks don't even make you sign the receipt -- they figure the small number of coffees which get charged to stolen credit cards are well worth the ability to keep the line moving.