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MasterCard Introduces M/Chip Fast to Speed EMV
Thursday, April 28, 2016 6:25 AM

MasterCard has introduced M/Chip Fast, which is designed to speed up EMV card transaction time. The M/Chip Fast solution allows a consumer to dip an EMV chip card into the terminal and replicate the magnetic stripe transaction.

With the M/Chip Fast, the card authentication happens in one step instead of two, allowing the consumer to remove the card before the transaction is completed.

Testing has begun with the M/Chip. Merchants will be using models and prototypes within the next 90 days, MasterCard said.