September 27, 2016Blog Posts

Square slashes chip card reader transaction times

Finextra:

Square has moved to address merchant and consumer frustration with sluggish EMV transactions in the US by slashing the speed of its chip card reader by a quarter. Meanwhile, Jack Dorsey’s firm has launched the latest version of its hardware – which accepts contactless payments – in Australia. A year after America finally began the transition to chip cards, the technology has been widely criticised for how much longer transactions take than with old-fashioned mag-stripe plastic.

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