Worldnet, a payments product provider, has introduced GoChipNow, a plug-and-play product for virtual terminal merchants who want to upgrade to EMV, according to a press release. 

The company said GoChipNow makes it simple for anyone who previously purchased any magnetic stripe reader devices to upgrade to chip-enabled. GoChipNow provides a plug-and-play process that is as simple as unplugging the MSR device and plugging in the EMV device. Users log into the Worldnet browser-based virtual terminal to start accepting EMV payments without having to install and upgrade software or purchase expensive hardware, according to the release.

"For many merchants, the biggest obstacle to moving from mag stripe payment terminals to the more secure EMV solutions has been the cost and hassle of buying and installing new hardware," John Clarke, co-founder and head of product innovation at Worldnet, said in press release.

Worldnet said the device is backed by Quickchip EMV technology.