Visa Quick Chip for EMV
News about Visa Quick Chip for EMV.
June 24th, 2016
Discover has unveiled Discover Quick Chip, a new option for merchants to streamline the checkout process when customers pay with cards. “Discover Quick Chip will reduce the time a chip card needs to remain in the point of sale terminal, making the checkout process more convenient for merchants and cardholders,” the card network says. American Express also unveiled a similar offering earlier this month. Visa originally unveiled a feature designed to streamline EMV transactions in April 2016, closely followed by MasterCard.
April 28th, 2016
MasterCard has unveiled M/Chip Fast, a technology advancement designed to help speed up EMV transactions at the checkout. “A shopper inserts his or her card into an M/Chip Fast-enabled terminal,” the company explains. “M/Chip Fast provides counterfeit fraud protection by creating a unique code for each transaction. Once the code is generated, the card can be removed from the reader.” The announcement follows the unveiling of Visa’s Quick Chip for EMV service.
April 20th, 2016
Visa has launched Quick Chip for EMV, a technology enhancement that speeds up the checkout time when paying with an EMV card. “The Quick Chip specification is available free-of-charge to payment processors, acquiring banks and other payment networks to offer to merchants,” Visa says. “The upgrade streamlines the processing of chip card transactions to enable customers to dip and remove their EMV chip card from the terminal, typically in two seconds or less — several merchant processors, terminal providers and vendors plan to implement and offer Quick Chip in the coming months.”