Visa talks up shopping speed of its hi-tech Quick Chip plastic - CNET

Visa would like to make paying for goods and services even more frictionless. According to the bank, cards using its new Quick Chip technology take a fraction of what it usually takes for retail machines to read.

Instead of the 15 to 18 seconds or so for chip-enabled credit cards to typically sit within the slots of checkout kiosks, Quick Chip plastic requires only a few seconds to be physically present. Customers will have to wait until the transaction completes though since there's no getting around that delay.

That said, the technology is apparently compatible with payment chips within existing mobile phones and contactless NFC retail terminals. Indeed the Wall Street Joual reports that big-box retailer Walmart plans to upgrade its brick-and-mortar locations to support Visa's solution since all that's required is a software download.