What's up with chip cards? They're way more secure than magstripe credit cards, but they can be slow to process which is frustrating for sellers and customers alike. Well, we've got some good news to share. We've just released a software update to the Square contactless and chip reader making it 25% faster to process chip cards. Our transaction speed (the time it takes from when you've dipped your card to when the payment is completed) is down to 4.2 seconds. Our goal is to keep improving our speed until we get it down to around 3 seconds.