MasterCard has introduced M/Chip Fast, which is designed to speed up EMV card transaction time.
The M/Chip Fast solution allows a consumer to dip an EMV chip card into the terminal and replicate the magnetic stripe transaction.
With the M/Chip Fat the card authentication happens in one step instead of two, allowing for the consumer to remove the card before the transaction is completed.
Testing has begun with the M/Chip. Merchants will be using models and prototypes within the next 90 days, MasterCard said