June 30th, 2020 - Payments, POS
By Brian DuCharme, Vice President of Product Management, TNS
Fuel and convenience retailers have been provided more time to upgrade payment systems before the liability shift begins now in April 2021. This announcement is welcome news for retailers who have not yet begun their upgrade projects yet — for two reasons.
One is obvious: Retailers have extra time to implement upgrades, although it’s advisable to start earlier than later; payment industry non-profit advocate, Conexxus, found that installation costs (e.g., labor) tend to increase leading up to an industry-wide change due to high demand.
The other reason the extended deadline is good news: It’s a major opportunity to get more for your money by upgrading to the most modern automated fuel dispenser (AFD) technology — not just chip readers, but also payment options that customers now desire, like contactless payments and at-the-pump ordering via digital display.
Enabling chip readers and other modern payments technologies will require upgrading not only the pumps, but also the network connectivity infrastructure, to securely support payments at AFDs while providing speed and reliability.
How TNSLink Helps Fuel and Convenience Retailers
This is where TNSLink for Retail comes in. It’s a fully managed, PCI-compliant connectivity solution for retail stores that connects an array of devices, such as outdoor and indoor payment terminals, PIN pads, AFDs and media devices that stream content and support back-office systems, all while safely securing and separating the devices.
In addition to being certified by Verifone and Gilbarco as a Managed Network Service Provider (MNSP) solution, TNSLink offers gas and convenience retailers features like:
Being a gas and convenience retailer has never been more demanding because of how fast things change. Data consumption requirements have grown exponentially with digital marketing, CRM tools, smart payment terminals and other innovations, all of which require store networks to be online, all the time.
When compliance burdens, particularly around taking payments, are layered on top, this requires a new approach to telecommunications in your store network. As gas and convenience retailers look to upgrade their equipment ahead of the EMV compliance deadline, they can look to TNSLink for a complete, end-to-end, managed solution that provides secure payments both at the pump and in stores — helping retailers modernize their equipment while solving the challenges of doing business in a rapidly changing world.
Brian is Vice President of Product Management for TNS’ FinTech Payments business and has over 20 years’ experience in the telecom and payments industries. At TNS, he leads a diverse global team and is responsible for driving product innovation for safer, more secure commerce.