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Visa Heads the Charge for Faster Chip Transactions

July 24, 2016

Since the October 2015 deadline for EMV Compliance / aka Chip Card Technology, American consumers and merchants have undergone a learning curve when it comes to the new technology, which isn’t actually so new, since Asia, Canada and Europe have been implementing it for years.

The biggest complaint we hear from our merchants is that the technology is too slow. We have numerous convenience stores, coffee houses, and businesses that do a lot of small transactions. These merchants rely on getting people in and out quickly so their lines don’t back up.

Well, Visa is the first to come up with a solution to this problem. According to an article on Koin 6 News, over the next 6 months, Visa will be innovating “Quick Chip for EMV,” which will be similar to how ATM cards are inserted and quickly removed while the transaction goes through. While Visa is the first to initiate this effort, we’re certain American Express, Discover, and MasterCard will want to jump on the bandwagon shortly thereafter, which is great news for merchants and consumers alike.

Read Full Article here: http://koin.com/ap/visa-new-technology-for-chip-cards-to-speed-checkout-times/

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