Visa talks up shopping speed of its high-tech Quick Chip plastic
Instead of 15 to 18 seconds, Quick Chip cards sit in the slot of a checkout scanner for only a few seconds before they're recognized, the company said. Customers will still have to wait till the transaction completes though. There's no getting around that delay.
The technology is apparently compatible with payment chips within existing mobile phones and contactless NFC retail terminals. Indeed, The Wall Street Journal reports that big-box retailer Walmart plans to upgrade its brick-and-mortar locations to support Visa's solution, since all that's required is a software download.