EMV Updates, Dangers of Skimming

“There are several stumbling blocks to meet to date, including the lack of available and certified software. And while many retailers have decided to upgrade, retailers think that this upcoming liability will not affect their businesses. The fact is that many site owners do not understand their actual risk, and come April 17, 2021, and beyond, they will be in for a rude awakening that will hit their bottom line,” says NACS.

EMV, named initially after Europay, Mastercard, and Visa, is the microchip technology that makes debit and credit cards much more secure than the magnetic stripe. The security of EMV comes from a one-time code that changes every time the card is used, making it much more difficult for a thief to steal consumer’s credit and debit card information.

So, what does it mean if you aren’t able to accept EMV cards? As of April 17, 2021, when a fraudulent credit or debit card is used (with an EMV chip in it), and you don’t have an EMV chip reader point-of-sale (POS) system, you will be responsible for the chargeback.

According to Business Wire, the average cost of not being EMV compliant is approximately $208,000 per year (as estimated based on 12 location c-store businesses). But, if you’re EMV compliant, you aren’t liable for any of the C-stores have historically been highly targeted by thieves because they can easily attach a skimming device to your POS at the pump. They walk away, waiting as your customers unwittingly give them their debit and credit card information. As more and more c-stores become EMV compliant, it will make the ones that aren’t more vulnerable.

While becoming EMV compliant is a top priority for c-stores, many other changes are happening in the convenience and fuel space. With engagement changing through rapid digital adoption through the ease of agnostic wireless platforms and the demand from consumers for better convenience and engagement through advanced wireless technology, consider some of the following when updating your POS system to be EMV compliant:

Using technology that personalizes your customer’s experience and truly engages with them. Providing seamless curbside pickup that meets your customers growing demand for contactless, ease, and convenience. Having a POS system that supports contactless payments and everything in your customer’s digital wallets. Using technology that personalizes your customer’s experience and truly engages with them. Providing seamless curbside pickup that meets your customers growing demand for contactless, ease, and convenience. Having a POS system that supports contactless payments and everything in your customer’s digital wallets.

“360 Fuel doesn’t just produce software for the fueling experience; it creates a platform of empowerment for both the c-store owners and the consumers buying the products. With our technology, we make brands more readily visual, allowing the realtor to have a more personal bond with the consumer than anywhere else in the business of customer service,” Michael R. Coleman, Vice President of Business Development.

360Fuel’s technology allows for an easy installation of wireless EMV fuel dispensers with low environmental foot printing. The 360Fuel Secure Wireless Access Point and Subscriber Unit offers secure and reliable wireless connection of the point-of-sale systems, fuel dispensers, merchant service gateways, forecourt controllers, loyalty, and merchandising systems. Securing a Gigabit connection to the forecourt, 3x’s faster than their closest competitor: efficiently handling pumping, payment, media, and diagnostic communications. Install a local gigabit network in matters of minutes, less than 3 minutes per device!

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