Limiting Chip Card Delays at the Point-of-Sale

Although many people like the increased security that chip cards bring to both retailers and consumers, many are concerned that the processing at the POS is longer than the typical swipe and go cards. As shoppers, we have become accustom to credit and debit card transactions at the POS only lasting 2-3 seconds.  With the new chip (EMV) cards, transactions can take up to 2 or 3 times longer – the delay is mostly caused by the chip card remains in the terminal until the transaction has been authorized and the customer has provided a signature or PIN. 

EMV cards come with an embedded smart chip that is programmed by the card issuer to create a unique cryptogram (secret code) for every transaction.  The code represents a randomly generates number provide by the POS terminal at the time that the purchase amount is keyed in by the cashier.  Use of an EMV chip triggers cardholder verification required for authentication.

Luckily there are steps that a business can take in order to streamline the entire checkout process for customers.  One solution is the implementation of line-busting programs, such as a mobile payment option - this can help retailers reduce wait times and long lines.  Another possible solution is for a business to make sure that all staff is well-trained in how to facilitate an EMV transactions at the POS. This too can help keep the transaction time low and wait time more manageable.

With EMV cards becoming the new norm, it is important for businesses to understand their importance and head off any “problems” that it may cause for customers.  The overall safety that EMV cards bring for both retailers and consumers outweighs the few extra seconds that it takes at the POS.

Want more information? Apex Payment Solutions can answer your questions and assist you in your transition to EMV. If your business has not transitioned to accepting EMV cards, it’s time to consider making the switch.  Contact an Apex Payment Solutions representative to find out which options are best suited for your business.