With all the recent headlines about skimmers turning at gas pumps, it’s hardly surprising to find fuel customers are concerned about the security of their financial data when paying for their fuel purchases through credit or debit card.
But which consumer demographic appears to be most worried?
According to a survey by ACI Worldwide and YouGov, it’s the baby boomers that are sweating the most over skimming incidents at gas stations.
In the survey, one-thousand-two-hundred-and-seventy American adults were asked about their preferences and concerns when shopping for gas at fuel stations and convenience stores. Sixty-two percent of survey respondents put data security at the top of their list of worries.
Baby boomers (at 70 percent) were more concerned about the skimming wave than any other demographic that took part in the survey. Yet, when questioned about which payment method they prefer for paying for their fuel purchases, fifty-five percent of baby boomers said debit or credit card.
This makes for an interesting observation:
Although, fuel customers are extremely wary of skimmers at gas pumps, they are not ready to sacrifice the payment convenience which comes with using debit and credit cards.
This puts the onus on gas station owners, where they must find a solution to offer fuel customers a safe and secure payment experience at the pump, without compromising convenience.
So as a gas station how do you that?
The answer is simple:
By upgrading your card terminals to EMV…
EMV makes card payments more secure by utilizing a computer chip that generates a unique security code for each new transaction. This eliminates any counterfeiting risks by rendering the stolen card data useless.
To accept EMV cards though, you need to have EMV compliant card terminals installed at your gas pumps.
EMV has already become a standard in payment card security technology across all industries; it’s just the fuel retailing industry that currently lags behind. However, gas station owners have until October 1, 2020 to make the switch.
Have you upgraded your fuel station for EMV?
If you haven’t, speak to a Kennedy Company representative today to learn what you need to do make your gas station EMV compliant.
Hurry up, the clock is ticking!
John W. Kennedy Company is your trusted gas station equipment and essentials supplier. We’ve been serving the U.S gas stations and convenience stores since 1930. Visit our online store to find out more about our products and services.