Posted by Mike Smith :: June 26, 2007 @ 8:35 pm

While you might be hearing "Would you like to save 10% today?" more and more at the checkout line of your nearest retailer, there's likely something that you've been hearing less and less of which is helping to improve your life: Those familiar dial tones and modem sounds every time someone pays with their credit or debit card.

With the proliferation of company networks and a migration of point-of-sale systems (i.e. cash registers) to high-speed network based transactions, you are now unknowingly saving considerable amounts of time! The increased speed of transaction seems to vary by manufacturer, but a high-speed point-of-sale system can reduce the transaction time from 12 seconds to less than 3.

Is 9 extra seconds going to change your life? Probably not. But at three seconds per transaction, it would seem as though there is some truth to the latest marketing campaign of a credit card issuer that suggests that a swipe of the card is faster than cash and ultimately good for business. Now there’s nothing wrong with using that credit card at the cash register as long as you pay the balance in full at the end of the month!