Square
wants to
make your chip card less an**ying
Square k**ws that
chip credit cards are an**ying. That's why the payment company is trying to cut down the time you have to wait for
your chip to process, at least when you're paying at a
Square vendor.*
Square has cut down the transaction speed for its contactless and
chip reader from 5.7 to 4.2 seconds, it an**unced Monday. The company points out that that's 25 percent faster, but it's still aiming to get the time down to three seconds in the long run.*
That 4.2 seconds is the time from dipping a credit or debit
card into the
chip reader to when the transaction is complete.*
Chip cards use EMV, or Europay Mastercard Visa, tech**logy.*
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