American Express has launched Amex Quick Chip, a technology that allows merchants to offer a more seamless experience at the point of sale for cardholders when they pay using their EMV chip cards.
Go deeper with GlobalData
Available to merchant processors, Amex Quick Chip can be deployed to interested US merchants through a software update to their EMV-enabled payment terminals.
To minimise the risk of fraud stemming from counterfeit payment cards, EMV technology stores information on a microprocessor chip embedded in a card.
With Amex Quick Chip, cardholders can dip their card into a merchant’s payment terminal 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, thereby providing an experience similar to swiping a magnetic stripe card and enabling merchants to streamline the checkout experience.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataAmex Quick Chip is compatible with the technical standards used in Quick Chip services provided by other payment networks, which allows processors and their merchants to easily implement these solutions across all card brands that they accept.
American Express vice president of global network business Mike Matan said: "Reducing friction for Card Members and merchants is a key priority for 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."
