This article is brought to you by Invenco.
ALEXANDRIA, Va.—When Scottie Holden, director of technology for Holden Energy LLC, first heard about the new EMV standard for pay-at-the-pump transactions, he was concerned. The Bessemer, Alabama-based company was founded 40 years ago, and although it has grown, Holden still owns and services numerous small gas stations and c-stores. Holden realized that replacing existing fuel pumps with new equipment to meet EMV requirements at those locations would be cost prohibitive.
“Today, we do significantly more [gasoline] volume than when we started, but we still have many smaller accounts, and the numbers in that type of scenario just don’t work with EMV conversion,” Holden said. “You can’t justify a new dispenser, new communications hardware and everything you need when your c-store is pumping 25,000 to 30,000 gallons a month. If you aren’t doing 100,000 or 150,000 gallons a month, there’s just not enough profit there for a reasonable ROI.”
Every fuel retailer wants to avoid the fraud liability that took effect with the EMV compliance deadline, but many dread the cost of pump replacement and worry that a long installation process will disrupt business. Holden felt the same way until he connected with Invenco, a global provider of self-service payment solutions.
“We showed Scottie how Holden Energy could retrofit its existing pumps at a fraction of the cost of replacing them,” said Craig Panter, chief business development officer for Invenco. “Certified retrofit kits are available for every major pump model in the U.S. market, including retrofit kits that come pre-assembled for fast installation and give old pumps a modern look. While installing a fuel dispenser may take up to six hours, a retrofit can be completed in less than 90 minutes. The only store downtime is the few minutes when the point-of-sale system is updated and rebooted, and that can be scheduled at a time that doesn’t interrupt business.”
In November 2020, Holden began retrofitting the company’s existing dispensers with Invenco’s HD touchscreen pay-at-pump terminals, which include NFC contactless payment readers at no additional cost. The Holden team manages the terminals across their sites using Invenco’s Cloud Services (ICS) platform. The platform enables retailers to monitor site assets remotely in real time and proactively assesses issues using remote diagnostics. ICS can quickly resolve software problems and even send fixes via the cloud for software-based issues. With EMV and PCI regulations updated on a regular basis, all software and compliance updates can be made via ICS.
The management team at Holden Energy has become a strong advocate for the retrofit solution to EMV compliance.
“The savings upfront was tremendous,” Holden said. “You pay for the installation, and then there is a required four-year contract with a very affordable monthly fee based on the number of dispensers you have. I feel like this product is going to be a savior for a lot of people.”
This is the second installment of a two-part series about achieving EMV compliance. Click here for more information about Invenco’s EMV-compliant payment terminals.