Square cuts again its chip reader card processing time

In 2017, the company announced that it had trimmed its processing time down from 4.2 seconds to 3.6 seconds via a firmware update it rolled out to the Square Contactless and Chip Reader.

Using the previous figure as a benchmark, Square has cut its processing time by a further 44%, achieving this speed reduction by working with Visa and Mastercard to implement their respective Quick Chip and M/Chip Fast technologies.

The reduction adds up throughout a day for brick-and-mortar retailers, meaning more transactions per hour for the merchant and shorter lines.