Quick Chip for EMV
Overview
Clearent’s layered security approach uses EMV technology to protect against counterfeit card fraud.
Quick Chip for EMV provides merchants with fast, secure in-person payment processing while eliminating the need for lengthy EMV certifications. Compared to traditional EMV card readers, Quick Chip-enabled EMV terminals reduce chip card transaction times from 15 seconds to 2 seconds.
Chip card transactions are more secure because they prevent card data theft. Offering EMV-compliant card readers also protects merchants against chargebacks since they are no longer liable for chargebacks on purchases made with counterfeit cards.
Quick Chip-enabled terminals also utilize PCI-Validated Point-to-Point Encryption to protect card data while it’s in motion between the device and processor.
How it works
EMV cards contain a computer chip that functions as a miniature processor and transmitter. Each transaction produces a new, unique transaction code. Transaction codes are never repeated, so each code is useless after its intended transaction. Even if a sophisticated hacker was able to steal a particular code, the code would have no value, even with the card that created it.