The EMV "chip" card reader deadline for retail fuel dispensers is October 2020.
To learn more about how this will affect fuel retailers, click here.
EMV Compliance Begins October 15th
What is EMV?
Although major changes in the U.S. credit card transaction process begin to roll-out in less than one month, many people still don't understand how EMV affects their businesses. In October of 2015, the major credit card providers will begin to embed encrypted microchips into all of their credit cards to enhance their security.
All retailers who accept credit cards must upgrade their Point-of-Sale (POS) equipment to read the new EMV microchip cards, or they will suffer the liability of any fraudulent transactions they process. The dollar amount of this liability, shifted from the credit card issuer to the retailer, could be substantial. The POS upgrades required for transactions processed inside your store is October 2015 and at the pump by October 2017.
Our point of sale experts are currently working with a number of retailers to explain the full implications of EMV, analyze their upgrade options, and to devise an affordable plan for this transition.
Are you ready for EMV? Call 800-359-1010 or simply reply to this email, and I will personally make sure you get connected to the right expert to answer your questions.Share on Twitter Share on Facebook