Usually newer tech means faster tech but that's not the case with EMV. Chip based cards are actually slower than mag based cards because there's a lot more data being transferred back and forth compared to the swipe. Your card, the POS system and your card issuer are having a high tech chat that includes encryption and randomizing your data. More secure, yes. More time consuming? That too.
One major industry change that every business owner should be aware of is called EMV. There are two Billion EMV Cards currently issued, according to EMVCO LLC, the corporation that manages these standards. This global standard for accepting credit cards, also known as Europay, Mastercard and Visa, will require all business owners to maintain compliant equipment.
Unfortunately for many business owners, many of them will only be reading and hearing about the importance of EMV in the coming months, as the story gains national coverage - with 20 days to go before the liability shift occurs, many will be left wishing they were better informed, at a much earlier time.