MasterCard to reduce EMV checkout time

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.