Worldpay QuickChip Technology
Terminals reduce chip card wait time to three seconds.
Worldpay has become the first U.S. payment processor to offer Quick Chip technology for chip card transactions, according to the company. Worldpay’s terminals that use Quick Chip technology reduce chip card wait time to three seconds by removing the need for chip card processing to receive the final amount, authorization and post-authorization with the chip card in the terminal. Once the chip card is removed, Quick Chip uses the issuer’s online response to determine if the transaction is approved or declined. Implementing Quick Chip technology for existing chip card customers only requires downloading free software, WorldPay said. For new chip card customers, Worldpay can provide a terminal with pre-loaded Quick Chip software.
