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Non-EMV Compliant Fuel Retailers On The Hook For $400M

Petroleum Service Company

Non-EMV Compliant Fuel Retailers On The Hook For $400M

In April 2021, fuel retailers who have not yet upgraded their Point of Sale equipment to be EMV compliant may find themselves on the hook for the average $400 million a year fraudulent charges in the US retail fueling market!

EMV (Europay, Mastercard and Visa) technology can significantly curtail theft and protect fuel merchants from liability for losses. EMV cards feature a microprocessor chip that verifies the card, authenticates the cardholder and authorizes a transaction with a unique set of digital instructions – encrypting the confidential information and dramatically reducing the risk of card counterfeiting and fraud.

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