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EMV  Compliance

What Fuel Retailers Need to Know About Security and Liability:

In the wake of high-level data breaches and pervasive credit card fraud, beginning this year, liability for fraudulent credit card purchases will switch to retailers who have not deployed EMV Credit Card reader technology. Retail fuel POS systems will need to be upgraded by October 2015 to be considered EMV - Compliant, whereas outside AFDs do not need to be upgraded until October 2017.

EMV, which is an initiative between EuroPay, MasterCard and Visa, is a global technology standard adopted by the major credit card companies to govern the rules regarding the acceptance of  "chip cards," at both POS and in dispenser terminals. Chip cards have an embedded microchip that offers enhanced security making them less susceptible to fraud.

EMV  compliance mandates that retailers with outdated POS readers will assume liability for fraudulent credit card purchases.

Phase-1: October 2015 - in-store POS sytem
Phase-II : October 2017 - Outside Dispenser Terminal Readers.

Call Habib Shah : Tel : (937) 470-9400 or email to habib@igsoa.net for assistance if need any help.

 

 

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Last modified: Thursday January 12, 2017.