What is EMV and why do I have to change?
EMV is the latest global standard for credit and debit payment cards based on the newer chip card technology. The name simply comes from the associations that promoted its development - Europay, Mastercard, and Visa. The standard was developed to enhance cardholder information security, mitigate fraud at merchant locations who accept payment cards, and to reduce the costs and frequency of chargebacks. Upgrading your system prior to the April 2021 deadline benefits you in each of these areas and protects your brand and reputation as a merchant.
The extended deadline offers business owners some breathing room to complete the migration process, but there is still urgency around meeting this new standard on time. We are well-positioned to help customers through this process, and now is the time for businesses to start pushing ahead to complete the EMV migration process and avoid the potential price increases that may accompany demand during the first months of 2021.
How long will the upgrade take?
If you are upgrading dispensers and POS software at the same time, it can be an all-day process; however working with our merchant services team to create a detailed action plan ahead of time is the best way to estimate time and resources required.
How will this affect my customers?
The biggest change will come at the card reader. Customers will be prompted to leave their card inserted until instructed to remove it. Depending on the card, they may be instructed to enter additional information. Typically, they will simply be instructed to remove their card and proceed with the fueling transaction.
What happens if a customer leaves a card behind?
Our POS software is designed with a safety net that reminds customers to remove their cards. If the customer doesn't remove it, the cashier inside the store will be notified. During the first few days of operation, your cashiers will need to be mindful of this situation and be prepared to train your customers.
How will my customers know I upgraded?
Make sure you utilize all the tools in our EMV Welcome Kit to your advantage. Using stickers and signs let your customers know you invested in their security can help differentiate you from your unprotected competitors.