POS Supply Solutions Blog
Is Your Gas Station EMV Chip Ready?
EMV Chip-Card Readers Required at U.S. Fuel Pumps Beginning October 1, 2020
If you own or manage a gas station, you should already be planning on upgrading your fuel pumps to be EMV compliant. This is because starting October 1, 2020, counterfeit fraud liability will shift to you, the merchant, if a customer uses an EMV chip card at any of your gas pumps that can only read the magnetic stripe.
This deadline was announced by Europay, MasterCard and Visa, the three companies that established these new standards for EMV technology (and what “E.M.V.” stands for). Unlike credit and debit cards with magnetic strips, EMV chips are much harder to counterfeit and provide more credit card security.
Because of the enhanced security features of EMV, issuing banks will no longer be covering fraud-related costs incurred at non-EMV automatic fuel dispensers after October 1st, 2020. This liability shift could result in thousands of dollars in chargebacks to your business.
To avoid being held financially responsible for fraudulent transactions, upgrade your dispensers as soon as possible. Remember to consider lead times when placing orders for new equipment, and make a plan to be EMV “chip ready.”
UPDATE: The EMV liability shift deadline for automated fuel dispensers has been extended to April 16, 2021 due to disruption to the workforce and supply chain amid the coronavirus pandemic. Retailers are advised to continue to stay on schedule. Learn more.
For more information, check out these resources:
Forecourt EMV Migration: Waiting will cost you.- Gilbarco Veeder-Root
Your business may be at risk - Dover/Wayne Fueling Systems
POS Supply Solutions carries Pay-at-the-Pump Receipt Rolls, Register Rolls, Cleaning Cards and more Point of Sale supplies to help keep your gas and service station running smoothly. We've recently lowered prices on our most popular items - plus we offer free, same-day shipping on most orders! Check out our Gas Station & Convenience Store Industry Solutions page for more info.
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