Making payments even faster remains a top priority in the financial sector. Worldnet claims it has cracked the code in this regard. The firm seeks to introduce one-second chip transactions. This will happen through its Quickchip technology, which is coming to the company’s range of POS payment products.
Card payments currently still take several seconds to complete. It is a lot faster than before, but there is still room for improvements. Transfering funds from payer to recipient is still a lengthier process. As such, something will need to change, and Worldnet is trying to make it happen. The firm has been working on Quickchip for quite some time now.
A Smart and Bold Move by Worldnet
Through this technology, merchants can change their POS infrastructure accordingly. The Worldnet terminals are low-cost and chip-based solutions. With transactions completing in just one second, checkout process can be sped up by several orders of magnitude.
Worldnet CEO and Co-founder Will Byrne adds:
“Our objective here at Worldnet is to provide payments solutions that are super-fast, secure and a positive experience for the consumer at point-of-sale. We’re delighted to announce the integration of Quickchip technology to our POS product range in partnership with IDTech. Deployment of Quickchip minimizes transaction time for consumer, delivers increased security and reduces exposure to fraud for the merchant”
Due to this new development, competition continues to heat up in the POS industry. Making card payments more competitive for both consumer and merchant can only be considered to be a good decision. It will allow for new use cases and business models alike. With benefits to both consumer and retailer, Worldnet ay make a big impact in the coming years.