Visa Wants to Make your Chip Credit Card Purchase Faster

Visa Wants to Make your Chip Credit Card Purchase Faster

  • By Sydny Shepard
  • Apr 20, 2016

By now, everyone in the United States has come into contact with the EMV chip-enabled cards. You’ve pushed your card into a machine and nervously waited to hear the blaring honks that indicate that you can, finally, remove your card and go on with your life.

Since the chip-enabled cards came onto the consumer scene, people have noticed (and complained about) the amount of time it takes to complete a purchase using the new cards. In all, it takes up to 20 seconds to complete a chip-enabled credit card purchase. Visa is hoping to trim 18 seconds off that time.

“Overall, there was some merchant dissatisfaction with how long it was taking to process the transaction,” Ellen Richey, Visa’s vice chairman of risk and public policy, told the Wall Street Journal in an interview.

Visa said on Tuesday that it had upgraded its software to improve the processing of chip-enabled cards and reduce checkout times. The software update would allow customers to dip their credit card in for two seconds, rather than having to leave it in the payment machine for an elongated amount of time while the transaction is going through.

While the card companies have tried to do their part to cut down on transaction times, retailers are coming up with ways to save time, too. Walmart, for instance, has removed the prompt that asks the customer to approve the cost of purchase. This, in total, saves about 11 seconds per transaction.

Our world of instantaneous gratification is being seemingly held up by these new chip-enabled cards and businesses, banks and retailers are doing everything they can to ensure that your in-store purchase experience is as smooth as the one-click Amazon.com purchase you make at 3 a.m. without realizing it. It just may take some time to get it perfect, and time is exactly what everyone is so frustrated about to begin with.

About the Author

Sydny Shepard is the Executive Editor of Campus Security & Life Safety.

Featured

  • Report: 47 Percent of Security Service Providers Are Not Yet Using AI or Automation Tools

    Trackforce, a provider of security workforce management platforms, today announced the launch of its 2025 Physical Security Operations Benchmark Report, an industry-first study that benchmarks both private security service providers and corporate security teams side by side. Based on a survey of over 300 security professionals across the globe, the report provides a comprehensive look at the state of physical security operations. Read Now

    • Guard Services

  • Identity Governance at the Crossroads of Complexity and Scale

    Modern enterprises are grappling with an increasing number of identities, both human and machine, across an ever-growing number of systems. They must also deal with increased operational demands, including faster onboarding, more scalable models, and tighter security enforcement. Navigating these ever-growing challenges with speed and accuracy requires a new approach to identity governance that is built for the future enterprise. Read Now

  • Eagle Eye Networks Launches AI Camera Gun Detection

    Eagle Eye Networks, a provider of cloud video surveillance, recently introduced Eagle Eye Gun Detection, a new layer of protection for schools and businesses that works with existing security cameras and infrastructure. Eagle Eye Networks is the first to build gun detection into its platform. Read Now

  • Report: AI is Supercharging Old-School Cybercriminal Tactics

    AI isn’t just transforming how we work. It’s reshaping how cybercriminals attack, with threat actors exploiting AI to mass produce malicious code loaders, steal browser credentials and accelerate cloud attacks, according to a new report from Elastic. Read Now

  • Pragmatism, Productivity, and the Push for Accountability in 2025-2026

    Every year, the security industry debates whether artificial intelligence is a disruption, an enabler, or a distraction. By 2025, that conversation matured, where AI became a working dimension in physical identity and access management (PIAM) programs. Observations from 2025 highlight this turning point in AI’s role in access control and define how security leaders are being distinguished based on how they apply it. Read Now

Most   Popular

New Products

  • QCS7230 System-on-Chip (SoC)

    QCS7230 System-on-Chip (SoC)

    The latest Qualcomm® Vision Intelligence Platform offers next-generation smart camera IoT solutions to improve safety and security across enterprises, cities and spaces. The Vision Intelligence Platform was expanded in March 2022 with the introduction of the QCS7230 System-on-Chip (SoC), which delivers superior artificial intelligence (AI) inferencing at the edge.

  • FEP GameChanger

    FEP GameChanger

    Paige Datacom Solutions Introduces Important and Innovative Cabling Products GameChanger Cable, a proven and patented solution that significantly exceeds the reach of traditional category cable will now have a FEP/FEP construction.

  • HD2055 Modular Barricade

    Delta Scientific’s electric HD2055 modular shallow foundation barricade is tested to ASTM M50/P1 with negative penetration from the vehicle upon impact. With a shallow foundation of only 24 inches, the HD2055 can be installed without worrying about buried power lines and other below grade obstructions. The modular make-up of the barrier also allows you to cover wider roadways by adding additional modules to the system. The HD2055 boasts an Emergency Fast Operation of 1.5 seconds giving the guard ample time to deploy under a high threat situation.