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The Software Vendor's Guide To Faster EMV

Source: Clearent
Quick Chip

‘Slow’ Is a Thing of the Past.

As the use of chip cards becomes more prevalent across industries, consumers are able to pay more securely but not necessarily more quickly (or conveniently) — and that’s what consumers want when they're ready to make a purchase.

HERE’S AN EXAMPLE EVERYONE IS FAMILIAR WITH:

You’re ready to make your purchase, so you pull out your card and instinctively slide it through the reader. After a moment of confusion and frustration, you realize the card must be inserted instead. Once it’s in the right place, you stare at a screen instructing you not to remove your card. Time slows down, minutes seem to pass, and you begin to regret buying that “quick" soda. Then, seemingly out of nowhere, the reader sounds an alarm that sounds like a game show buzzer when the contestant is wrong. You retrieve your card, scramble to gather your purchase, and remind yourself to pay with Apple Pay or cash next time.

It’s undeniable that the original EMV technology — short for Europay, MasterCard, and Visa — falls short in terms of providing an ideal checkout experience for the consumer. While customers are waiting for payments to process, lines begin to form, bottlenecks develop, goodwill erodes, and employees scramble to open additional registers. In short, everyone’s dissatisfied.

HERE’S THE BRIGHT SIDE:

As a software provider, you can turn this experience around for your customers and their consumers.