EMV Resource Center – Introduction

EMV Resource Center

The Road to EMV 2020

On October 1, 2020, under rules instituted by Mastercard, Visa, American Express and Discover, counterfeit fraud liability shifts to the merchant when a chip card is used at a fuel dispenser that only has the ability to read the card’s magnetic stripe and not the chip.

Before October 1, 2020, the issuing bank covers the counterfeit and lost/stolen fraud because the mag-stripe card is the least secure and allows criminals to counterfeit.

On October 1, 2020, and after, the issuing bank will not cover fraud-related costs that are made using a non-EMV compliant fuel dispenser.

Currently, the industry is making investments to accept EMV for various reasons including avoiding the cost of chargebacks and fraud. Installing EMV technology will increase your payment security and reassure your customers.

Upgrading your fuel dispensers is a complex undertaking that requires time to plan and implement. There are various options when upgrading, which include retrofit kits and full dispenser replacements. NACS has determined that over 800,000 individual dispensers need upgrading. With limited availability of technicians to fulfill the orders, you will see a delay in installation and increases in upgrade costs. It is important to plan ahead for your dispenser conversion so that you meet the deadline.