ALEXANDRIA, Va.—On this week’s episode of Convenience Matters, “EMV: Ready or Not?,” NACS hosts Jeff Lenard, vice president of strategic industry initiatives, and Carolyn Schnare, director of strategic initiatives, talk with Linda Toth, director of standards at Conexxus, about EMV compliance at the pump.
Come Oct. 1, 2020, all fuel dispensers must have EMV processing capabilities or face increased liability. “This means a noncompliant merchant will be responsible for counterfeit fraud,” Toth said. She pointed out how a recent Conexxus survey found the fuel retailing industry could experience $451 million in card fraud this year—and retailers who did not upgrade for EMV will be on the hook for an increased amount of that fraud.
“If you think about it, as more and more retailers come online, the number of non-EMV sites get smaller and their portion of that fraud gets bigger,” Toth said. “Just because [your store hasn’t] seen fraud today, doesn’t mean [you] won’t tomorrow.”
As locations upgrade to EMV, they become less attractive to skimmers. “Fraudsters today are still trying to skim off mag stripes and will continue to target non-EMV sites to skim data,” Toth said.
While rumors abound that there will be another delay in implementing EMV compliance at the pump, Toth said that the card companies have clearly stated they will not move the deadline. “Consider it a hard deadline,” she said.
Each week a new Convenience Matters episode is released. With more than 200 episodes to choose from, the podcast can be heard on Apple Podcasts, Spotify, Google Play and other podcast apps and YouTube and at www.conveniencematters.com. Episodes have been downloaded more than 130,000 times by listeners around the world.