Due to the Covid 19 Pandemic the credit card companies have extended the EMV Compliance deadline to April 16, 2021. After this date the liability for chargebacks due to payment fraud at the pump will shift to station owners.
The U.S. Secret Service reports that they recover over 1000 card skimmers on fuel dispensers each year. The average skimmer captures at least 80 cards before it is discovered. Outdoor payment fraud is on the rise, the current cost of fraud at fueling stations is $400 million plus per year. You will soon be responsible for any charges made at your store with counterfeit cards, along with chargeback fees, if you are not EMV Compliant.
While the Midwest has not been a prime target by skimmers yet, there is increasing activity. As hard-hit areas such as Florida, Texas, and coastal regions secure their systems, the crooks will move on to easier targets.
Get ahead of the game!
Gasoline Equipment is here to help. Converting to EMV takes time and resources. Our certified technicians can assess your site, identify your needs and install the necessary components for compliance. Remember that there are a limited number of certified technicians in your area, so it is important to start NOW. Gasoline Equipment can also refer you to a Wayne preferred finance company that can assist you in getting the resources you need.