news.cuna.org/articles/110172-mastercard-introduces-mchip-fast-to-speed-emv

MasterCard introduces M/Chip Fast to speed EMV

April 27, 2016

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