Did you know that fuel is a primary focus for fraudulent purchases? Thieves target automated fuel dispensers where verification is limited. Installing EMV (Europay, Mastercard, Visa) compatible Point of Sale (POS) equipment will protect you and your station from being forced to take financial responsibility in these instances of fraud.
All major card carriers have put the Fraud Liability Shift into place. Financial institutions worldwide are issuing contact or dual-interface EMV “smart cards” for credit and debit payment. Current magstripe cards are being replaced with new cards using the chip feature. This chip makes it more difficult to obtain stolen data for transactions. This applies to c-stores and any non-dispenser POS.
You are responsible for fraudulent chargers if you don’t have EMV. Luckily, for fuel stations, there is still time. Liability will not fall onto fuel stations until October 1, 2017.
Here’s what Jauregui & Culver, Inc. can do to ease the migration:
- Assess retailers need for EMV compatible POS and evaluate the cost of migration versus the cost of delay. Each location is different and needs to be surveyed by a qualified person, not just a salesman. Some locations may require new conduits for new Ethernet cables made necessary because of the much greater amount of data being transmitted.
- Upgrade the existing POS to one EMV compliant on the existing fuel dispenser
- Upgrade or replace the fuel dispenser to an EMV compliant dispenser
Start now. Don’t wait for regulations to change. This is more than a software upgrade. It involves every part of the transaction: hardware, software, and firmware. The closer this gets to the deadline, all services will be stretched: the suppliers, the installers, the inspectors.
Call or e-mail us and we can come out to help you keep control of this before the deadline hits and equipment becomes scarce, which we all know leads to higher prices and costs for you as a business owner.