Upgrading to EMV? It’s Later Than You Think

The following article has been reproduced from the CStore Decisions article, Upgrading to EMV? It’s Later Than You Think, written by  that appeared online on

EMV Technologies

Panel experts warn that now is the time to start the long process of upgrading your pumps to EMV standards.

 

The EMV liability shift as it has come to be known as will take place on October 1, 2020. This deadline is when fuel retailers will have to install or upgrade their locations with the more secure chip card reader technology that uses cryptography to keep credit card information safe and prevent fraud.

 

This deadline will create a major liability shift from the card-issuing banks to pushing nearly all credit card fraud to retailers who do not upgrade their pumps to the new, more secure technology.

EMVCo
And for those not familiar with EMV, it’s an actual company, EMVCo. that stands for Europay, MasterCard and Visa. It was formed by those credit card issuing banks; American Express, Discover, JCB, Mastercard, UnionPay and Visa to address fraud prevention within the industry with the result being the chip card that most consumers have already been using inside the c-store and other retail environments.

And while the deadline has been extended once already, for those retailers undecided about whether to upgrade or not, it looms just over a year away!

Session panelist and Folk Oil Vice President Jim Linton warned those reluctant retailers it’s later than they think, warning that lead times for upgrading current dispensers could take as much as six months! Linton should know as Folk Oil has updated 100% of its pumps at all 35 of its multi-branded locations. He’s seen many of the things that can go wrong and delay the process.

Linda Toth, director of standards for non-profit c-store and petroleum market technology advocate Conexxus, said a study by her group found that 58% of retailers who have yet to upgrade believe they won’t make the liability shift deadline. And 25% said they have no idea when they’ll upgrade.

If you haven’t upgraded yet, your biggest question is: Is it worth it to upgrade?  We at the Kennedy Company agree with this panel’s findings; yes, it most certainly is! If you have the “wait and see” attitude, you will find it will be much tougher to get the necessary equipment and skilled technicians to perform the needed upgrades as we get closer to the deadline and AFTER the deadline, YOU – THE RETAILER will be responsible for pretty much all the fraud payback!

Also, the longer retailers wait, the more difficult and costly it will get to upgrade and if your reluctance to upgrade causes you to miss the deadline altogether, there is a very strong likelihood fraud payback charges will be far more costly than the upgrade itself!

 

If you haven’t upgraded your location(s) to EMV yet, looking to stay ahead in the game and would like to upgrade today, contact us at 1.800.451.4021.

 

 

The John W. Kennedy Company appreciates your business and continued support!

 

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Verifone – VASC Field Service Bulletin: Secure Pump Pay & Smart Pump Access

VASC Field Service Bulletin

Verifone MX760 & MX700 Secure Pump PayOVERVIEW

Verifone announced in August 2014 that they entered an agreement with Gilbarco such that Gilbarco would become the integrator, distributor and service provider for all Verifone’s forecourt payment systems. Any pre-partnership commitments and agreements would continue to be honored in respect to Verifone’s Paymedia (Secure Pump Pay program).Verifone Smart Pump Access

During this time, Verifone’s new strategy with Gilbarco would be to continue to collaborate and engineer products sold under the Gilbarco sales channel. The current product is known as Flexpay IV and is exclusively available from Gilbarco for use with their model dispensers and retrofit kits.

Verifone stopped producing its Secure Pump Pay product line in July 2016 and existing inventory on- hand was used to fulfill existing contractual commitments. Beginning September 30th, 2019 only clients who are under existing contracts will receive support and repair from Verifone for their SPP devices. This includes the
Secure Pump Access (SPA) device.

Verifone’s mission is to deliver high-quality payment solutions based on powerful new technologies that lower your cost of ownership and enhance the efficiency of your operations. Verifone looks forward to helping you meet outdoor EMV and other increasingly complex regulatory, compliance and security requirements.

COMPLIANCE INFORMATION

Visa’s U.S. deadline for EMV for dispensers is currently set at October 1, 2020. Additionally, the Verifone SPP is certified either to the PCI 1.x or 2.x standard and both have now been succeeded by versions 3, 4, and 5. SPP PCI 1.x devices should be replaced as soon as feasible because of possible vulnerability based on the age of the device. These are primary reasons Verifone has been forced to phase out repair services for the SPP.

Learn more about Gilbarco’s FlexPay IV by click here or on the image below.

WHAT DO I NEED TO DO?

You can contact us at 1.800.238.1225 to obtain a compatible solution to replace SPP equipment and choose a compatible EMV-enabled product. Please do not hesitate to contact us with any questions or equipment needs to meet EMV requirements as well as any of your other refueling equipment needs. 

And please visit our online store where we have thousands of products ready to ship the same day (for orders received prior to 3PM Eastern Time) and what you can’t find, please call us at 1.800.238.1225 as we have access tens of thousands of products from hundreds of vendors.
The John W. Kennedy Company appreciates your business and continued support!

 

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Chip Card Storm Brews

Jeremie Myhren - chief information officer for Road Ranger in Rockford, Ill.The following article, written by Jeremie Myhren appeared May 9, 2019 on Convenience Store Decisions  has been reproduced. Jeremie has been managing IT in the convenience retail industry since 2000. He is the chief information officer for Road Ranger in Rockford, Ill.
Read Jeremie’s original article here.

 

As the October 2020 EMV liability shift at the pump draws near, the cost of not taking action grows clear.

No other industry has as many unattended outdoor payment terminals as we do in the convenience store and petroleum industry in the U.S. There isn’t even a close second.

This becomes increasingly relevant to the data security conversation as the payments technology and security landscape continues to evolve. Outdoor payment terminals are steadily increasing in value as a tool used by the criminal underworld.

The October 2015 inside Europay, Mastercard and Visa (EMV) liability shift in the U.S. moved a material percentage of retail payment card transactions from traditional magnetic stripe swipe to inserted, chip-card read. While attackers moved to exploit chip where they could, through techniques like swipe fallback, the retail shift to chip added cost, complexity and reduced feasibility for the criminal hacking groups and gangs who perpetrate most of the large-scale payment-card breaches.

That’s not to imply that inside EMV solves the payment card data security problem. In most cases, payment terminals are just as susceptible to a costly compromise as before EMV. Typical breach methods like memory scraping point-of-sale (POS) malware remain a threat, and the data captured in such an attack remains valuable, even from a chipped card. Really, the biggest shift in the EMVmove to inside chip is that your outlet becomes less attractive for criminal syndicates to perpetrate the final step of the payment-card data-breach fraud — actually spending the money or using the compromised account to buy goods or services to then sell or trade for cash.

That said, today, few of us have fully-operational EMV-capable payment-card terminals at the pump. Many of us have some sites and lanes with chip-capable hardware, but few retailers and payment networks are conducting an actual chip-card read at the fuel island.

The EMV liability shift at the fuel island currently stands at October 2020 and is unlikely to be extended further. Until the liability shift actually takes effect, so long as we follow current acceptance rules (things like not authorizing over allowed limits), we’re largely protected from stolen account numbers being used for purchases at our outdoor payment terminals.

This conceals the reality that our c-store sites are seeing higher incidences of stolen or breached payment cards being used for fuel purchases. Thieves are finding more obstacles at their traditional outlets, which have fully converted to chip-card acceptance, so the non-EMV-accepting fuel dispensers have increased in value to them. Because the issuing banks behind the stolen cards being used are bearing the cost of most of this fraud, we are often blind to it — even as it rises steadily.

This sets us up for a troublesome late 2020. Those who do not make the necessary investments in chip-accepting hardware at the fuel island, as well as those who have, but whose POS and payment processing partners have not, will find a shock in November 2020 as they bear the full burden of payment-card fraud at the fuel island for the first time.

What’s A Retailer To Do?

  • If you are branded, ask your fuel brand what your options are and what the current state of their technology programs are when it comes to EMV at the pump.
  • Talk to your POS software and hardware providers to determine dispenser EMV options and when they will be ready.
  • Talk to your dispenser partners about your specific dispensers and what your specific options are.
  • Talk to your payment-card processors about your specific technology mix and when they will be ready for your specific setup.
  • Talk to Visa, Mastercard, American Express and Discover. If you do not have an assigned representative from each payment brand, ask your payment-card processor to put you in touch.
  • Ask each payment brand to share the burden of Automated Fuel Dispenser (AFD) fraud at your sites for the past year. Normally, you do not see this data, as you didn’t bear the burden of it, but they have it and are generally able to provide it.
  • Use all of the above to apply pressure where needed to get various stakeholders to get you ready in time. Also use it to build your business case and ROI needed to fund the necessary investments to be prepared.

 

Do you have further questions about EMV capable and compatible equipment for your customer’s forecourt and in-store transactions?  Give us a call at 1.800.451.4021!

 

The John W. Kennedy Company appreciates your business and continued support!

 

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Patriot Capital: Is Equipment Financing Right For Your Business?

Patriot Captial - Is Equipment Financing Right For Your Business?You have options in how you finance your fueling and convenience store equipment. Adding new EMV gas pumps, POS, LED’s, storage tanks or EMV upgrades? View the short video below to learn how business equipment financing and leasing for your convenience store compares with other loan and borrowing options.

Feel free to give us a call at 1.800.451.4021 if you would like to finance your next equipment purchase or visit Patriot Captial’s Equipment Financing Learning Center to learn more.

The John W. Kennedy Company appreciates your business and continued support!

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How to avoid getting skimmed when you’re filling your car with gas

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In our ongoing efforts to educate and inform, our partners at Patriot Capital have asked us to share the following article written by Fredrick Kunkle that appeared in the Washington Post on June 16, 2017. Read the original article here.

 

When you’re filling your car at the gas pump this summer, you could be also be giving a thief access to your bank account or credit card.

Gas stations are a chief target of criminals who use data-grabbing skimmers to siphon data from drivers’ credit and ATM cards, according to law enforcement officials and gas retailers. Almost daily, the secretive and illegal devices are discovered at gas stations across the country, such as here, here and here. Earlier this month, Fairfax County police reported finding 21 skimmers at 15 different locations in the past year.

Skimmers work like legitimate banking card readers, but they are secretly installed in or on the pumps by criminals to steal people’s financial data. Gas stations are particularly vulnerable, but banks and other businesses have also been hit.

“The people who are doing skimming — it’s amazing, some of the things they do,” said Lyle Beckwith, senior vice president for government relations at the National Association of Convenience Stores (NACS).

Gas stations are targeted because of their physical layout and the volume of their business. Thieves find it relatively easy to use gas station islands as cover while they tamper with the machines, Beckwith said. The devices are placed either inside the pumps by thieves who jimmy them open or outside the pumps using overlays on the pump’s card reader. Usually, thieves put one skimmer in a single gas station, but that one device can capture a lot of card data.

NACS, which represents more than 2,100 retailers, says nearly 80 percent of the fuel in the United States is retailed through them. Although only a small fraction of those fill-ups get skimmed, a small fraction of 29 million daily fuel customers can mean a lot. A single skimmer can collect data from 30 to 100 cards a day, NACS says.

NACS

The National Association of Convenience Stores (NACS) says special sealing tape can help consumers and gas station operators spot pumps that have been tampered with. (Screen grab from NACS video; courtesy of NACS)

NACS

The National Association of Convenience Stores (NACS) says special sealing tape can help consumers and gas station operators spot pumps that have been tampered with. (Screen grab from NACS video; courtesy of NACS)

To counter them, retailers have been sealing the pumps with special tape. If you see that the seal is broken, you should not use the machine and should alert the operator, he said.

Retailers think the problem will diminish once consumers and retailers fully adopt chip technology, according to Rob Underwood, president of the Petroleum Marketers Association of America.

“As of now, there is a wait time for retailers to have access to the new equipment, which costs around $20,000 per pump,” Underwood said in an email. He said consumers and retailers will still remain vulnerable to fraud until credit card companies allow retailers to require consumers to use PINs on transactions.

NACS has produced a video for its retailers that’s also helpful for consumers, which you can view here:

Here are some tips from law enforcement officials and retailers to protect you at the pump:

  • Use cards with PIN numbers

You’re better off using a card with a PIN if you buy gas, according to NACS and PMAA. NACS, citing a 2013 Federal Reserve study, says you’re four times more likely to be ripped off if your transaction is made without a PIN.

“Signature-based transactions are processed on the antiquated Visa and MasterCard systems that do not process in real-time, versus the instant operation of PIN debit. Not using PIN also increases the cost of the transactions, which is passed back to the consumer,” NACS says. It also says that even old dispensers have technology to encrypt PIN numbers, and that gas pumps have been equipped with them since the early 1990s. “PINs provide a higher level of security. That is why banks require them for transactions at ATMs,” it says.

However, it should be noted that Fairfax County police say that if you’re ripped off via a credit card, you have more protection as a consumer than if the thieves do somehow get your PIN and access to your bank account.

“When the money comes out of that bank account, it’s a lot more difficult to get reimbursed,” Fairfax County Police Officer Tawny Wright said.

That said, the retailers — who bear the cost for fraud — still say they think customers are better off using the PIN.

  • Avoid older gas pumps if you can

These pumps are easier to break into and tamper with. Newer pumps have technology to prevent being ripped off.

  • Check to see whether the pump has been tampered with

Thieves install internal devices by opening the pumps and putting them inside. But gas stations have fought back by using serial-numbered security tape that track the reasons why the dispenser door was opened. If the tape is cut, damaged or broken, it should “bleed” to alert people that it’s been tampered with, NACS says.

For external skimmers, which are installed over an existing keypad, look to see if the keypad is raised. You can do this by running your fingernail along the edge, NACS says. The skimmer may also be loose or wiggle when  you touch it.

Police said newer Bluetooth skimmers are particularly tricky to detect because they can be hidden entirely inside the pumps.

  • There’s an app for that

Retailers can use the SkimDefend app, along with special NACS tamper-alert decals, to track attempts to mess with the pumps.

  • What should you do if you suspect a pump has been tampered with? 

Customers should alert the gas station operator, who should shut the pump down immediately and have it inspected by a technician.

NACS also advises that no one, including the technician, should touch or remove the device. Let the police handle it. In large cases, the FBI and Secret Service sometimes get involved, NACS says.

  • Check your banking and credit card statements frequently for suspicious charges 

If you see anything out of order, call your bank or credit company to report it right away.

If you are a petroleum retailer unsure as to whether now is the time to upgrade your equipment with EMV technology, have questions about equipment and/or financing, we invite you to contact us at 1.800.451.4021 and along with our partners at Patriot Capital, we can explore your equipment and financing options to ensure your location(s) have the latest and greatest data security and your customers’ bank accounts and credit cards are safe from such data skimming technology and practices.

We appreciate your continued business and support!

Gilbarco Announces First US Fuel Dispenser EMV “Chip” Transaction

Gilbarco First US EMV Dispenser
The following article has been reproduced from the original content found at http://www.gilbarco.com/us/news/gilbarco-announces-first-us-fuel-dispenser-emv-chip-transaction

Heightens Security and Meets Growing Consumer Expectations

Thursday, June 15, 2017

Gilbarco Veeder-Root has announced the successful processing of the first US EMV™ “chip” transaction at a fuel dispenser, utilizing Gilbarco’s Passport® Point-of-Sale (POS) and Encore® fuel dispensers on the First Data network (NYSE:FDC).

Gilbarco’s Passport POS solution is the first POS in the US to process forecourt EMV transactions, leveraging FlexPay™ CRINDS from Gilbarco.  Gilbarco expects forecourt EMV payments to quickly begin turning on across the country at the large installed base of FlexPay CRINDS as the software is released for payment networks throughout the year, and as fraud migrates to less secure payment points and security-conscious customers migrate to those sites with enhanced security.  The Passport POS system has supported EMV in-store transactions since May 2016.  With simple software upgrades, Passport sites can be easily configured and enabled for full EMV transactions at the dispenser for all major card types.

“Gilbarco is proud to continue to lead the market on EMV technologies, both inside the store and at the dispenser.  Our customers are looking to enable EMV at the dispenser as soon as possible, to provide the security their customers expect of them, and to get the most of the forecourt EMV hardware investments they’ve already made,” said Mark Williams, Vice President of Marketing, Gilbarco Veeder-Root.

Kamlesh Patel, owner of the 49 Fuels site processing the first US forecourt EMV transaction was eager to enable EMV at the forecourt, stating, “Our dispensers were already EMV-ready, so turning on EMV at the dispenser just required a simple Passport software upgrade.  We’ve seen our customers rapidly become accustomed to paying with their chip cards inside the store on our Passport system, and they are quickly expecting to be able to use their chip card at the dispenser, as they know that it gives them additional security.”

For more information about the Fundamentals of EMV, please go to http://www.gilbarco.com/us/learning-center/emv-c-store-retailers.

About Gilbarco Veeder-Root
Gilbarco Veeder-Root is the worldwide technology leader for retail and commercial fueling operations. It offers the broadest range of integrated solutions from the forecourt to the convenience store and head office. For over 150 years, Gilbarco has earned the trust of its customers by providing long-term partnership, uncompromising support and proven reliability. Major product lines include: fuel dispensers, dispenser media, point-of-sale systems, payment systems, tank gauges, software development and integration, fleet management systems and nozzles.patriot-logo

For more information about Gilbarco EMV or any other Gilbarco Veeder-Root products,  feel free to contact us at 1.800.451.4021.  And that’s not all!  Not only can we help with your equipment needs but our great partners at Patriot Capital are THE Equipment Financing Specialist of our industry.

We appreciate your continued business and support!

More On EMV From Our Friends At Petroleum Processing Solutions

Petroleum Processing Solutions logoWith all merchants who accept credit cards facing the impending shift to the EMV standards, our partners at Petroleum Processing Solutions will be providing us with some helpful information to guide you through the EMV mine field of equipment, processing standards and requirements all will face in the next few years.

About EMVCo

EMV Chip CardEMVCo is a worldwide group comprised of six member organizations (American Express, Discover, JCB, MasterCard, UnionPay, and Visa) and supported by numerous banks, vendors, and other industry stakeholders who act as associates.  Among these associates, EMVCo is managed by a Board of Managers and an Executive Committee, as well as various Working Groups.  Their goal is to facilitate the most secure payment transactions possible through utilizing and evolving the EMV Specifications through processes such as card and terminal evaluation, security evaluation, and management of interoperability issues.

8 FAQs About EMV Cards

PPS EMV article 1Since the shift began towards EMV began here in America a year and a half ago, vendors and industry professionals have had to implement a great deal of new technology and processes into their businesses.  Because it is an ongoing process, many questions are often asked about EMV, including what makes them more secure than traditional cards, how they are used, if “card-dipping” is the only way to use them, whether or not they will require a PIN, who will be liable for costs in the event of fraud, whether or not the shift EMV is complete, if an EMV card will work at a retailer not yet supporting the technology, and if an EMV card can be used while traveling outside the country.

Living with EMV

PPS EMV article 2Introducing EMV technology has come with its fair share of challenges and difficulties.  According to industry professionals, certain trends have been established, and from these trends, the course of the payment industry can be speculated going forward.  Among these findings are that most customers have chip cards in their possession, and that more stores will be accepting them in 2017.  As well, chip cards have been found to reduce counterfeit fraud and protect the card’s magnetic stripe (while they remain), and thanks to using data from the previous year and a half to improve the technology, transactions using the chip are now much faster and easier.  In addition, the loud beeping noises from EMV terminals are not likely to be necessary anymore.  Also, while ATM card skimming fraud saw a rise in activity during 2016, upgraded ATMs compatible with EMV technology should deter further card skimming.

Understanding Liability Shift

As EMV becomes the standard in payment processing technology, having the technology capable of accepting chip cards will no longer be an option for merchants.  As of now, magnetic stripes are still accepted as the transition continues, but businesses that do not support the more secure EMV transactions could pay a heavy cost in the event of fraudulent transactions.  As of October 1, 2015, a global POS counterfeit fraud liability shift went into effect in the United States, which holds that merchants that are not EMV certified are liable for any fraud resulting from a transaction with a customer in possession of a chip-enabled card.

If you would like to learn more about EMV and/or Petroleum Processing Solutions, contact us at (800) 451-4021.

 

The John W. Kennedy Company appreciates your business and continued support!

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JWK Trade Show – March 29 & 30, 2017 – SAVE THE DATE!!

Yes, it is that time once again when the John W. Kennedy Company presents our biennial trade show featuring over 40 manufacturers and representatives displaying the latest and greatest products and service to

Make Your Station Safe Again!

 

Show starts Wednesday, March 29, 2017 at 9AM until 4:30PM with 6 different certification and informational seminars provided by 6 different vendors. We invite you to join us for our cocktail reception immediately following the show’s conclusion on March 29th with entertainment provided by The Bianco Martinis.

BiancoMartinis

 

 

 

 

 

 

 

 

And if you can’t make it on March 29th, we invite you to attend our half day on March 30th from 9AM to Noon!

Here is a complete list of seminars being held on March 29th:

 

8:00AM – 9:00AM:

OPW Corporate Logo

 

 

 

OPW FlexWorks Piping Certification Training Seminar
OPW Best Practices and Contractor Installation Training teaches how to properly install OPW FlexWorks Piping and covers the following topics in depth:

  • FlexWorks Component and System Overview
  • Safety Requirements and Protocol
  • Proper Handling and Storage of Materials
  • Double Wall Delivery Piping
  • Double Wall Pipe Fittings
  • Pipe and Sump Entry Fittings
  • Testing and Maintenance Criteria
  • Contractor Training Requirements
  • Successful Completion of Training Carries 2-Year Certification

 

9:15AM – 10:15AM:

Bravo Logo

 

 

 

Bravo Repair Fitting Certification
Entry Fitting Certification with cover:

  • How new regulations affect secondary containment
  • Bravo FRP retrofit certification training
  • Compliance with double wall monitored sumps.

 

10:30AM – 11:30AM:

APT FFS

 

 

 

 

APT Piping Certification Seminar
Piping Certification seminar.
VERY IMPORTANT!! In order to receive your certification for this seminar, you will be required to take an online test with Franklin Fueling. If you do not already have one, you MUST create an FFS PRO University account with Franklin Fueling PRIOR to the show using a unique email address for each tech attending. To do so, please follow the guidelines in this document, CREATE AN FFS PRO UNIVERSITY ACCOUNT

 

11:45AM – 12:45PM:

Diversified Logo

 

 

 

 

Diversified Products Repair Fitting Certification
Repair fitting certification.

 

1:00PM – 2:00PM:

Containment Solutions Logo

 

 

 

 

CSI Tank Installation Re-Certification Seminar
Tank Installation Re-Certification

 

2:30PM – 3:30PM:

GVR

 

 

 

Gilbarco EMV
Gilbarco EMV informational seminar

Registration for the show and seminars IS REQUIRED!

We plan to open online registration in the coming days. Please watch this space for further notice!

 

The John W. Kennedy Company appreciates your business and continued support!

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Opinion: EMV At The Pump: Should You Wait Until 2020?

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The following article was written by Richard Browne of Patriot Capital for www.cspdailynews.com.  Read the original article here.

ATLANTA — There was a collective sigh of relief on Dec. 1, when Visa, followed quickly by MasterCard, announced a shift in the forecourt gas-pump liability date from 2017 to 2020. I believe there also was a smile in some boardrooms, as retailers that already have invested see an opportunity to capture gallons and inside sales.

Industry reports suggest that about 33% of dispensers in the market are capable of processing payments to Europay MasterCard Visa (EMV) data-security standards with either a software or small hardware upgrade. This represents dispensers installed since 2011, when both Wayne and Gilbarco started shipping “EMV-ready” dispensers. Both manufacturers are reportedly close to or have released the required software to enable EMV, and there’s high probability that many networks will be processing EMV from pumps by mid- to late 2017.

So what?

Consumers are quickly becoming used to using a chip card. They are aware of the reason for it: increased security. Crooks are aware of EMV, and can quickly identify fuel dispensers that have—or don’t have—EMV payment enabled.

I believe we’ll see two things happen:

  • Consumers will shift their buying behavior to EMV-enabled gas pumps, starting in 2017. A high percentage of your customers have had one of their cards breached in the past and want the most secure transaction possible. In Europe and Canada, which have completed their implementation, retailers saw gallons shift to “secure” EMV sites from those that hadn’t yet been upgraded. Switching costs are low in our industry; it’s very easy for a customer to drive another block for a safer experience.
  • Criminals will have a shrinking number of sites to target. About 10% of dispensers are replaced each year. This suggests that, with no acceleration in upgrades, more than 50% of dispensers will be EMV-enabled in 2018, and 70% in 2020. The crooks have got to eat, and they will have half the sites to target that they had in 2015. Combine this with EMV implemented at restaurants and retail, and the potential places to commit card fraud becomes a small target.

Gray Taylor, executive director of Conexxus, said that Visa and MasterCard’s delay announcements appear to not clearly delay liability for retailers who experience higher fraud rates or those accepting foreign-issued cards. “We don’t see this announcement as a true game delay, but a bit of breathing room,” he said.

It is important to review your fraud liability with your processor, and understand Visa and MasterCard’s plans and how increased fraud may affect you.

It’s highly unlikely that we’ll see the liability upgrade deadline move again. With the installed EMV base naturally approaching 80% or more dispensers, the arguments that caused the date to move have less sway, and all other U.S. payments markets will have been EMV-enabled for five years.

Waiting will get more expensive. It’s generally anticipated that the new administration’s economic plans will result in higher inflation and interest rates. Combine this with promised lower tax rates, which effectively reduce the benefits of capital depreciation and makes equipment more expensive on a net-cost basis, and increases in labor costs, and waiting will be expensive. For multisite operators, the change in bonus depreciation from 50% today to 30% in 2019 and 0% in 2020 can have a significant cash-flow impact.

Competitors that have upgraded to new pumps will have enhanced marketing capabilities that the newest pumps provide. Video screens and contactless payment provide marketing options that can increase adoption of customer-loyalty programs and drive more traffic into your store.

The bottom line: Delaying pump EMV upgrades means potential market-share loss and higher fraud risk for your site. Consumers—and crooks—will know who’s made the move.

The John W. Kennedy Company appreciates your business and continued support!

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Visa Extends EMV Deadline

Retail Group Cheers Ruling on Visa Processing Issue