American Express Launches Quick Chip Service to Provide A More Seamless Process For EMV Chip Card Transactions at Point of Sale
June 15 2016 - 7:00AM
Business Wire
Service is Available to Help U.S. Merchants
Streamline the Check-Out Process When Card Members Pay With
Their Chip Cards
American Express (NYSE:AXP) today announced the availability of
Amex Quick Chip, a technology that enables merchants to provide a
more seamless experience at the point of sale for Card Members when
they pay with their EMV chip cards. Amex Quick Chip is available to
merchant processors, which may deploy the service to interested
U.S. merchants through a software update to the merchants’
EMV-enabled payment terminals. This provides another option for
merchants in industries where having a fast check-out process is
especially important.
EMV technology reduces the risk of fraud stemming from
counterfeit payment cards by storing information on a
microprocessor chip embedded in a card. Card Members dip or insert
their EMV cards into a merchant’s payment terminal instead of
swiping their cards. With Amex Quick Chip, Card Members can dip
their Card during the check-out process and remove it before the
transaction is completed. This can reduce the time Card Members
must keep their Cards inserted in the terminal, providing an
experience similar to swiping a magnetic stripe card and enabling
merchants to streamline the checkout experience. Importantly, Amex
Quick Chip continues to offer the same protection against
counterfeit cards that traditional chip card technology does.
“Reducing friction for Card Members and merchants is a key
priority for American Express,” said Mike Matan, Vice President,
Global Network Business, American Express. “Amex Quick Chip
provides merchants operating in industries where fast checkout
speed is critical with an option for ensuring Card Members can
quickly and efficiently pay for purchases with their EMV chip
cards.”
Amex Quick Chip is compatible with the technical standards used
in Quick Chip services offered by other payment networks, enabling
processors and their merchants to easily implement these solutions
across all card brands that they accept.
Amex Quick Chip is currently available to processors, merchants
and vendors in the U.S. Interested parties may download the Amex
Quick Chip Technical Manual at
www.amexglobalnetwork.com/amexquickchip to review implementation
requirements for the service. Merchants that want to upgrade to
Amex Quick Chip should contact their point-of-sale provider.
About American Express
American Express is a global services company, providing
customers with access to products, insights and experiences that
enrich lives and build business success. Learn more
at americanexpress.com and connect with us
on facebook.com/americanexpress,
foursquare.com/americanexpress, linkedin.com/company/american-express,twitter.com/americanexpress,
and youtube.com/americanexpress.
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version on businesswire.com: http://www.businesswire.com/news/home/20160615005621/en/
Andrew Johnson, American Express212-640-8610,
andrew.r.johnson@aexp.comorMolly Faust, American
Express212-640-0624, molly.faust@aexp.com
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