Though the U.S. has been more reluctant to adopt EMV®-enabled debit and credit cards, this payment technology has become virtually ubiquitous around the world. And U.S. card issuers are quickly rolling out these cards to consumers. Now, 70 percent of cardholders use EMV®-enabled cards.

However, cardholders in the U.S. have experienced some growing pains while acclimating to this new form of payment. The number one compliant among cardholders using EMV® cards has consistently been the length of transaction times at check out. And this is understandable. Magnetic strip card transactions are instantaneous: swipe and you’re done. However, EMV® cards, because they utilize a microprocessor to store and transfer information (basically, like a little computer), require customers to insert (or dip) the card into a terminal and leave it there until the transaction is complete. On average EMV® transactions take between 7 and 10 seconds.

Naturally, customers have become a little irritated, and sometimes confused, at the POS.

But merchants and customers alike will be pleased to know that Visa has developed and launched Quick Chip software for EMV®-enabled terminals! This software upgrade allows customers to insert the card into the terminal, which then automatically generates the EMV® cryptogram (a unique and secure code for each individual transaction), allowing the customer to remove the card while the transaction is completed. And the best part is the Quick Chip software upgrade is available for free to payment processors, acquiring banks, and other payment networks to offer to merchants. Visa’s Quick Chip technology promises to simplify and streamline the transaction experience for customers. It’s the EMV® solution we’ve all been waiting for!

If your business already uses Swypit for your merchant services, please contact us for more information about the Quick Chip software update to your EMV®-enabled POS terminals. And, if you’re on the lookout to establish or switch merchant services for your business, please visit Swypit’s website or contact us directly about merchant services that offer the latest in POS technology with superb customer service all at an affordable price!

About the Author

Kevin Hodes

Owner and founder of Swypit, Kevin Hodes, brings honesty and integrity to credit card processing. With unparalleled communication and customer support, Swypit directly contributes to their client’s profitability with world-class service, rates and leading-edge technology. Kevin is a two-time Best-Selling Author®, Executive Producer of “Maximum Achievement: The Brian Tracy Story,” and host of “Whatdaheck” on KVGI Radio Thursdays from 10 – 11 am. Contact him via [email protected], 877-379-9748 or by visiting