- Visa (NYSE:V) announces it launched new software to cut down on chip card processing times. The new upgrade doesn't require any changes to the chip cards held by customers.
- The reduction in the time it takes for a customer to make a payment with a chip card is seen as a benefit to retailers as large chains make adjustments. Wal-Mart (WMT) has already made a series of moves to cut down processing times, including removing a transaction confirmation prompt.
- Visa says about one million merchants have chip card terminals or about 20% of all retail locations.
- Now read How Much Should You Pay For Visa?