Clearant intros Quick Chip solution for faster EMV processing
Payment processor Clearent has launched Quick Chip technology for EMV, a solution that significantly speeds up chip card transactions to make them just as fast as a card swipe, according to a press release.
Software vendors can implement the new technology in less than a week with Clearent's semi-integrated EMV solution, as opposed to the three to six months each to certify software, hardware and processor with a software vendor, the company said.
With Clearant's solution, payment data bypasses the POS solution altogether — keeping it out of scope for EMV certification. Semi-integration also means that the POS solution needn't be PCI PA-DSS compliant, resulting faster time to market for the software vendor.
For merchants, the solution reduces PCI scope, making compliance faster, easier and less expensive, since sensitive cardholder data is not stored or transmitted on their systems, the release said.