This Company Makes EMV Transactions Lightning Fast

Retail software provider Index has reduced EMV times to one second – the fastest EMV experience in the United States. Index 1-Second EMV provides apparel retailers, grocery stores and quick service restaurants (QSR) with an EMV solution that's fast, simple and secure: customers can dip anytime and remove their card in just one second.

Last summer, Index launched the first and fastest implementation of Quick Chip and M/Chip Fast. Now, Index is rolling out 1-Second EMV to speed up and simplify chip card transactions even further so retailers can improve the customer experience, capture sales and reduce costs.

"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 Deana Moore, vice president of marketing at Fairway Market. "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."

Index's new EMV solution dramatically speeds up checkout through a combination of technical advancements:

• Index EMV Kernel – Index's proprietary EMV kernel received Level 2 Certification from EMVCo and offers significant performance optimizations when a card is inserted.
• Optimizations for the U.S. Market – Index eliminates legacy components of EMV that aren't necessary for the online-only United States market.
• Quick Chip and M/Chip Fast – Index uses specifications created by Visa, MasterCard, Amex and Discover, which enable cards to be removed before total / authorization.

"The Index 1-Second EMV solution is an exciting implementation of Quick Chip that brings faster checkouts to consumers and merchants," said Stephanie Ericksen, Vice President, Risk and Authentication Products, Visa. "Index has set a new bar for secure and seamless chip card transactions that mirror the convenience of swiping a magnetic stripe card that consumers have long enjoyed."

In addition to speed improvements, Index 1-Second EMV simplifies the customer experience through product optimizations:

• Quick Dip – Index lets customers pay in one fluid motion – the dip is so fast their hand never leaves the card.
• Dip anytime – Index eliminates confusion and saves time by enabling customers to pay anytime, even before total. With Index, over 50 percent of customers choose to dip before total.
• Streamlined flow – Index eliminates unnecessary steps and uses 25 percent of the PIN pad screen to clearly guide customers through the transaction.

"We know from our retail partners that slow transactions and a confusing checkout experience create longer lines, and longer lines jeopardize sales because customers don't want to wait. With Index 1-Second EMV, we've solved that – it's as fast as a swipe with all the security benefits of EMV," said Marc Freed-Finnegan, co-founder and CEO, Index.

Looking ahead, Index is already working to make transaction times even faster. "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, co-founder and CTO, Index. "We're now working with networks and issuers to bring cards to market that will enable customers to dip in a few hundred milliseconds."

Index's core payment solution, built upon a semi-integrated architecture and hosted gateway, provides retailers with industry-leading security, flexibility and reliability – at a lower overall cost. Index's plug-and-play software for Toshiba ACE, LOC SMS, RORC, Microsoft AX and other point-of-sale (POS) platforms includes 1-Second EMV, point-to-point encryption (P2PE) with no fees, and remote device management. Index supports Verifone and Ingenico PIN pads and is certified to major payment processors including First Data, Vantiv, Chase Paymentech and Worldpay.