Both Visa and Mastercard recently announced they are delaying the EMV liability shift for U.S. fuel dispensers from October 2017 to October 2020.
Some of you are probably asking – Who Cares?
- Consumers are quickly becoming used to using a chip card and understand the reason for them, being increased security. This means they will want to the most secure transaction possible.
- Crooks will have a shrinking number of sites to target. This means yours could be next if you’re not protected.
- Retailers waiting to upgrade will impact not only their cost but also their ability to compete with others. This means competitors that have upgraded to the new forecourt equipment will have advanced marketing capabilities with contactless payment, video screens, and increased adoption of customer-loyalty programs that drive more traffic into the store.
The bottom line: Delaying EMV pump upgrades means potential market-share loss and higher fraud risk for your site.
If you have questions about EMV forecourt equipment and upgrades, give us a call at 800-654-6329!