Mobile payment company Square announced today that it’s lowered its chip card read time down to two seconds. The company says the industry average is typically between eight and 13 seconds. That makes Square’s Reader and Register platforms significantly faster than standard card-reading technology for EMV cards, which have rolled out broadly in tandem with retail chip readers in the US over the last five years. The company’s previous milestone was 4.2 seconds in 2016.
“Since chip cards arrived in the US, we have focused on making our chip reader fast for our sellers, and three seconds or more wasn’t quick enough,” Jesse Dorogusker, Square’s head of hardware, said in a statement. “Taking an EMV payment in as little as two seconds helps...
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