Time is now on the side of fuel marketers who have been
trying to figure out the economics of a big change on their fuel islands. The
deadline for having chip-readers installed at U.S. retail fuel outlets has been
extended by three years. Instead of October 2017 fuel marketers now have until
October 2020 to make sure their pumps can handle EMV technology. The acronym
that stands for Europay, MasterCard and Visa, the three global payment giants
that developed technology designed to reduce fraud from credit and debit card
transactions.
The decision recognizes reality; that changing credit and
debit card systems is a whole lot different at a fuel pump than at a
supermarket checkout counter. Bloomberg
reported that Visa and MasterCard listened to complaints that owners would
not have enough time to complete the ‘multibillion-dollar upgrades’.
“In some cases, older pumps may need to be replaced before
adding chip readers, requiring specialized vendors and breaking into concrete,”
San Francisco-based Visa said in a statement on its website as reported by
Bloomberg. Sufficient supplies of compliant hardware and software to enable
upgrades by 2017 remain an issue, the company said.
Make Dispenser
Change-Outs as Simple as Possible
It’s expensive to make the change, with the National
Association of Convenience Stores estimating the cost at around $30,000 per
store – about $4 Billion across the industry. Many outlets are opting to change
the entire dispensers rather than retro-fit existing ones to handle the EMV
technology. Companies making that decision are looking for ways to minimize
cost and disruption to operations.
In some cases, they have found a solution in Husky Corporation’s EZ-Connect, the
only certified, pre-assembled, pressure and continuity tested hanging hardware
assembly. It takes care of all the components from the dispenser through the
nozzle.
“The EZ-Connects are going on new dispensers. The
pre-assembled unit is really attractive to even the smallest operators,” said
one Husky Corporation manufacturer’s representative. “They see where that saves
a lot of labor time and money when they do a change-out or a new location. It
saves them lots of bucks.”
This video shows more about what goes into the EZ-Connect
system.
Now that the planning horizon is a bit longer, fuel
marketers will be able to make a phased-change to the EMV technology. Take
advantage of that time to make the transition as smooth and cost-effective as
possible. Contact Husky Corporation to learn about how reducing that impact
even more with EZ-Connect hanging hardware.