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When working a retail job I once (and only once) saw a credit card with a photo of the person it was issued to on the back. It was also about the only card I really bothered to check ownership on because signatures were useless.

Thankfully we've now got chip & pin, completely removing the need for minimum wage retail staff to verify ownership of credit cards.

Is this a serious security mechanism?

NPR's Planet Money recently did a story on the signature in CC payments. The answer seems to be "not really".

Here it is, Planet Money Ep. 564: The Signature (16:20)

"Today on the show: the signature. It's supposed to say, "This is me." But where did the idea come from? And why are we still using it? We consult a rabbi, a lawyer and a credit card executive."

http://www.npr.org/sections/money/2014/08/29/344034815/episo...

The signature is just a bit of evidence to check if you dispute a charge. It isn't a 99.99% key like in encryption.