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Analysis finds retailers who do not upgrade could face costs of more than $200,000

RESTON, Va.  Fuel and convenience retailers who fail to upgrade payment equipment at the pumps to EMV could face potential costs of, on average, $17,315 per site, or $207,780 over 12 months post liability shift, new analysis from Mercator Advisory Group and Transaction Network Services (TNS) has found.

Because full liability shifts to the party in the payment chain with the least secure payment technology once the April 2021 deadline passes, any fuel retailer who has not updated their AFDs to support EMV-certified chip readers will automatically lose a chargeback inquiry and be subject to additional compliance fees.

The estimate is based on a 12-location fuel enterprise with sites that are distributed across low, medium and high-risk zones for card payment fraud and considers… READ MORE
Source: www.cspdailynews.com