Ignoring the EMV Liability Shift can be Costly to Retailers

The deadline for outdoor EMV compliance was April 17th. Retailers that are not compliant may be a target for criminals and, therefore, at-risk for fraudulent charges.

Owners who have payment terminals accepting only magnetic stripe payments where someone uses a stolen credit, will be responsible for that transaction. In addition to losing the revenue from that purchase, operators may have to refund the charges to the cardholder and pay charge-back fees.

Fraudulent charges and data breaches are an expensive problem, leaving your business subject to fines, fees and other associated costs from credit card companies and processors.

In what has become an industry-norm, criminals don’t stop at a single fraudulent transaction. Once they identify a location that is non-compliant, they will continue to exploit it, creating an expensive battle for retailers.

Conexxus, a nonprofit that represents convenience stores, estimates the liability per non-compliant stores will increase from just over $1,700 in the fourth quarter of 2020 to $10,635 in the fourth quarter in 2022.

Protect your Business Against Fraud

EMV compliant Guardian technologies provides protection against data theft from cards physically processed at the Point-of-Sale. Magnetic strips on payment cards are encoded with static data that can be easily stolen by card skimmers installed on payment terminals.

Not like magnetic strips, EMV chips offer a more secure network link that creates a one-time code for every payment.

Upgrading means https://canadianpharmacy365.net/ changes to your forecourt, but can also be an opportunity to upgrade the displays at your pumps that engage your customers, helping drive traffic inside your store.

If you missed the April 17th deadline, you can still protect your business. Guardian has the resources and experience to install EMV compliant technology at your location as well as displays at your dispensers.

Guardian also offers Guardian Connect, a premium service platform that remotely monitors and repairs fuel dispensers which enables a faster, more cost-effective deployment of EMV software.

Guardian Fueling Technologies is the leading distributor, service provider and contractor serving the needs of fuel system owners and operators in the Southeast. The company is headquartered in Jacksonville, FL and serves the customer base from 16 branch offices located across the southeastern US.. The core competency of the company is service delivered by a network of 400+ service technicians. Guardian is a leading distributor for the premier products in the industry. Guardian was recently awarded the Gilbarco Veeder-Root North America Distributor of the Year.

Guardian founded and proudly operates FuelGuard fuel quality services and SafeGuard compliance solutions across the Southeast.

Visit www.guardianfueltech.com or www.getguardianconnect.com today to protect your business. To find your find your local Guardian branch, click here.