NEW YORK (AP) – Visa says its improving its smart chip-embedded cards, which have been the source of grumbling from businesses and customers forced to wait for transactions to go through.
The company said Tuesday that Quick Chip for EMV will let customers dip and remove cards, usually in two seconds or less, without waiting for purchases to be finalized.
Though the wait can be just seconds, in today’s economy of swipes and scans, the cards have been a nuisance for high traffic retailers, for example, a coffee shop during the morning rush.
The cards are more secure than those with magnetic strips because the chip assigns a unique code to each transaction.
Visa Inc. said that more than 265 million of its credit and debit chip cards have been issued to date.WHAT OTHERS ARE CLICKING ON RIGHT NOW:
- Florida man who killed wife, kids had history of domestic violence, records show
- Recordings shed light in case of teens who died when stolen car plunged into pond
- ‘Everybody Loves Raymond’ actress Doris Roberts dead at 90
- Dead man’s bedsores exposed bones, hadn’t been to doctor in 4 years
- Major changes coming to Walt Disney World for the summer
- Couple in Tampa engagement photo located, gets surprise photo session
- >>Back to the homepage for breaking news and the latest headlines
