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Published: February 28, 2019

Quick Chip for EMV – What's coming

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As a way to combat the longer transaction time associate with EMV (chip) transactions, Visa has been leading the charge to release a new technology called Quick Chip. While a standard chip transaction is done entirely on the chip, with quick chip, an authorization is sent with a preset amount instead of the actual total for an authorization. Then the customer can remove their card while waiting for the approval to come through, and the rest of the transaction is completed by the terminal (this is similar to how most mag strip transactions currently work). Since the transaction is still has all the encryption features of an EMV (chip card) transaction, they are just as secure but significantly reduce the amount of time the card is in the machine and is expected to reduce the amount of errors caused by cards being pulled out too soon. 


At this stage, the technology is relatively new, and as with all new technology will take some time to implement. As more processors and card readers are certified and upgraded quick chip transactions this will reduce some of the hassle that people associate with Chip Cards (For some quick tips on dealing with EMV cards, check out our last blog post).  This upgraded EMV experience is expected to remove some of the barriers that have caused slow adoption of chip capable terminals among merchants, and bring more businesses up to the EMV standard.
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