New Leaf Community Markets, a chain of seven grocery stores in California, has deployed Visa Quick Chip technology to speed up consumer chip card transactions.
The deployment of Visa's EMV transaction solution was completed by Index, a retail software company that combines secure payments, measurement, and personalisation.
Visa said that Quick Chip helps streamline entire chip implementation, thereby allowing merchants to become chip-ready in less than one week.
Now, New Leaf customers can insert and remove their chip card from store payment terminals in just two seconds that considerably reduces the payment processing time.
Index partner technology manager Joseph Koenig said: “Quick Chip was astoundingly straightforward to execute.
“We are now working to activate Quick Chip for our other retailer clients, either as part of a new chip solution or a software upgrade to their existing chip system.”
Visa vice president of risk and authentication products Stephanie Ericksen said: “Index and New Leaf’s experiences demonstrate that it’s possible to implement chip systems that deliver a fast and convenient consumer experience, stronger security, and protection against counterfeit fraud, in a matter of days – not weeks or months.
“Even more important than transaction speed is the ability to build, test, and deploy entire merchant chip solutions so quickly. The opportunity for more merchants to become chip-enabled and protect themselves against counterfeit fraud liability without delays is significant.”