Fairway Market, a grocery chain with locations in New York, New Jersey and Connecticut, now provides its customers with the ability to make EMV payments in just one second.
Using software provider Index's 1-Second EMV technology, grocery stores, quick-service restaurants and apparel retailers can now provide customers with faster checkout times, allowing them to put their card chip in and out in just one second.
Fairway first partnered with Index with the goal of increasing security on its customers' payment data. One of the first joint ventures was launching email receipts. Then, Fairway aimed to improve checkout speed.
"In addition to strengthening payment security, Index has reduced our gateway cost and helped us increase interactions with customers and improve the customer experience," Deana Moore, vice president of marketing at Fairway Market told FierceRetail.
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Last summer, Index launched its first and fastest implementation of Quick Chip and M/Chip Fast at the time that most retailers were still installing EMV chip readers at POS. The latest rendition, 1-Second EMV is faster and captures sales simply.
“We know that our customers have busy lives. Our priority is to make sure they get the best food, then get through the checkout process as fast as possible,” said Moore. “We are thrilled to be the first in the country to offer 1-second EMV and get our customers through the line in a New York minute.”
Beyond the one-fluid-motion enhancement, the technology uses specifications created by Visa, MasterCard, Amex and Discover, which enable cards to be removed before total authorization from the sales associate, as 50% of customers choose to dip before the total is revealed.
Index provided a software upgrade for Fairway's existing PIN pads. As with any software update, many parties had to collaborate to make sure everything went smoothly. By working closely with Index and Toshiba ACE point-of-sale, Fairway got the technology up and running quickly. Since Fairway already had Index in stores, they were able to turn on 1-Second EMV with no interruption to customers.
Looking ahead, Index is already working to speed up transaction times. “To further reduce EMV times, we’ve identified a significant opportunity to update terminal transmission parameters (bus speed) for next-generation EMV cards,” said Jonathan Wall, Index co-founder and CTO. “We’re now working with networks and issuers to bring cards to market which will enable customers to dip in a few hundred milliseconds.”