MasterCard is working with other payment networks, acquirers and processors to develop a standard that will reduce EMV checkout times. “These efforts will be based on the company’s M/Chip Fast solution,” MasterCard says. “It builds on the principles of contactless or tap and go technology, helping to speed EMV transactions and shoppers through checkout lines. Testing and certification for M/Chip Fast is streamlined for efficient adoption.” The company unveiled M/Chip Fast in April 2016.
- ANZ lets customers use smartphones and smartwatches to withdraw cash from ATMs across Australia
- Ithmaar Bank to let Bahraini consumers withdraw cash from ATMs with just their fingerprint and a PIN
- LG to pilot blockchain carrier billing system for international mobile payments in stores
- Digital currency pioneer David Chaum launches high speed blockchain for payments
- Beijing to pilot face recognition payments at railway ticketing barriers