This past spring, Visa became the first payment network to offer merchants a technology to speed up purchases initiated with chip payment cards. Visa developed Quick Chip to enable customers to dip and remove their chip card from the terminal without waiting for the transaction to be finalized.
New Leaf Community Markets, a chain of seven natural grocery stores in Northern California, is now the first merchant to use Visa’s Quick Chip technology. Retail software company Index implemented Quick Chip in just seven days and then upgraded New Leaf’s existing chip terminals with a software download overnight. New Leaf customers can now insert and remove their chip card from store payment terminals quickly and then put it away, similar to how they have used magnetic stripe cards.