Thursday, November 2, 2017

Verifone Implements Mastercard M/Chip Technology for Faster, More Convenient EMV Transactions at Checkout

6:47 AM    
1“The goal is to deliver great experiences for

consumers and merchants,” said Linda Kirkpatrick, executive vice president, U.S. Market Development, Mastercard. “We believe that M/Chip Fast should be implemented by merchants requiring accelerated checkout in today’s fast moving, competitive retail environment. With the approaching holiday season, we look forward to working with Verifone to create a better payment experience offering both speed and security for all chip-based transactions.”
“Retail is evolving and our merchants want to offer better, engaging checkout experiences to their customers,” said Joe Mach, president of North America, Verifone. “M/Chip Fast effectively prioritizes the parts of transactions that are critical to security. Quicker transaction speed with enhanced payment security are ideal when time is of the essence such as the holiday shopping season when checkout lines are especially long. Verifone is committed to supporting new technologies like M/Chip Fast to make EMV adoption a winning experience for both merchants and consumers.”
The Verifone Point and FIPay payment solutions, and the Verifone MX, VX and Engage product lines as well as Verifone Carbon, will all support the M/Chip Fast option and Visa’s Quick Chip for EMV® technology. Both M/Chip Fast and Quick Chip allow customers to dip their EMV cards while the items in the shopping cart are being scanned, and allow the card to be removed from the terminal as soon as the card data is read by the terminal. This can significantly speed checkout times. Used by most of the top 200 U.S. retailers, Verifone payment solutions provide the scale to help drive greater adoption of faster EMV technology.