Payment Gateway Provider Is One of the First to Offer Faster EMV to Merchants, Delivering a Heightened Experience to Consumers
LAS VEGAS – Aug. 30, 2016 – Shift4 Corporation today announced it has released a new software update that adds support for multiple quick chip EMV solutions, including Visa Quick Chip for EMV, Mastercard M/Chip Fast, Amex Quick Chip and Discover Quick Chip. As one of the first payment gateways to support quick chip functionality, Shift4 continues to deliver timely solutions to merchants’ most vexing payments issues.
Quick chip functionality alleviates the consumer’s perceived wait time by allowing shoppers to remove their EMV chip cards a few seconds after inserting their card while the clerk continues to scan items. Once the final item is scanned, the approval process can proceed without the card in the payment device.
The introduction of quick chip EMV provides many improvements to the point-of-purchase experience for both merchants and consumers, including:
Improved Shopping Experience: The most frequent complaint from consumers regarding EMV is that it takes so much longer, with EMV transaction times reported as high as 16-20 seconds. Shift4 already allowed merchants and consumers to benefit from some of the fastest EMV processing times in the industry. With this new quick chip functionality, consumers are no longer required to leave their EMV credit or debit card inserted for the duration of the transaction, which means they spend even less time tethered to the payment device.
Unmatched Security: Faster EMV means nothing if the transactions are not secure to begin with. Shift4’s full suite of payment security solutions, including TrueTokenization and True P2PE (point-to-point encryption), allows merchants to accept payments without storing, processing or transmitting sensitive payment data. This gives merchants a secure foundation they can build on with features like quick chip EMV.
Easy to Implement: Quick chip is now available as a built-in feature of Shift4’s comprehensive EMV solution. Merchants using this solution can add quick chip capability via a simple software update to Shift4’s Universal Transaction Gateway.
J.D. Oder II, CTO and SVP – R&D of Shift4, said:
“When we learned about quick chip, we wanted to be first out of the gate with support for this solution to a problem that has been annoying merchants and consumers since the advent of U.S. EMV — and we were! Shift4 certified the same day the card brands started offering certifications. With the vast number of EMV certifications and device/processor pairings that Shift4 supports, we are excited to offer this feature to thousands of merchants. We are certain that this will alleviate a great deal of frustration at the point of purchase.”
To learn more about Shift4’s EMV solution, please visit shift4.com/EMV or call 800.265.5795.
About Shift4
Shift4 stands alone as the last major player in the payments space to remain independent, self funded, and merchant focused. Our DOLLARS ON THE NET® payment gateway comes with all the bells and whistles: pre- and post-settlement auditing, fraud controls, support for new technologies like EMV and mobile, secure connections to nearly every major bank and processor in North America, and 350+ certified integrations to leading POS, PMS, and e-commerce platforms. Shift4 invests heavily in payment security — we invented tokenization and own eight payment-security patents. We empower our 33,000+ merchant customers with the flexibility to customize our secure payment processing solutions to fit their business. Learn more at shift4.com.
