Dear Readers,
In this blog we are going to learn about “Chip card transactions faster than a New York minute” signifies the rapidity and efficiency of modern chip card payment methods. With the widespread adoption of EMV (Europay Mastercard Visa) chip technology, financial transactions have become notably swifter and more secure. Gone are the days of lengthy card swipes and signature requirements; instead, these advanced chip cards facilitate quick and seamless payments, ensuring that the pace of financial transactions now matches the hustle and bustle of the Big Apple.
It’s been about a year since Visa introduced Quick Chip as a merchant software solution to speed up chip card transactions. We were very excited to see the first implementations go live at New Leaf Community Markets in Northern California and Brookstone stores nationally. Recently WorldPay became the first payment processor to offer Quick Chip pre-loaded into terminals or as a software download to its merchant customers. Today, more than 35,000 merchant locations are Quick Chip-enabled, bringing faster chip card checkouts to businesses and consumers.
Now, Fairway Market in New York is the first merchant to enable a one-second EMV chip checkout. Their payment technology partner, Index, launched their version of Quick Chip that speeds up the amount of time that the cardholder inserts the chip card into the terminal to just one second, making it nearly as fast as a swipe of a magnetic stripe card. Index installed the software upgrade at Fairway overnight, and the next day clerks and shoppers were surprised how much faster and easier their chip card transactions were.
Deana Moore, Vice President of Marketing at Fairway Market explained why they chose to implement Quick Chip: “Our priority is to make sure they get the best food, then get through the checkout process as fast as possible. We are thrilled to be the first in the country to offer 1-Second EMV and get our customers through the line in a New York minute.”
That’s welcome news on both sides of the checkout terminal.
About Ambimat Electronics:
With design experience of close to 4 decades of excellence, world-class talent, and innovative breakthroughs, Ambimat Electronics is a single-stop solution enabler to Leading PSUs, private sector companies, and start-ups to deliver design capabilities and develop manufacturing capabilities in various industries and markets. AmbiIoT design services have helped develop Smartwatches, Smart homes, Medicals, Robotics, Retail, Pubs and brewery, Security.
Ambimat Electronics has come a long way to become one of India’s leading IoT(Internet of things) product designers and manufacturers today. We present below some of our solutions that can be implemented and parameterized according to specific business needs. AmbiPay, AmbiPower, AmbiCon, AmbiSecure, AmbiSense, AmbiAutomation.
To know more about us or what Ambimat does, we invite you to follow us on LinkedIn or visit our website.
References:-
https://usa.visa.com/visa-everywhere/security/emv-chip-minute.html
