June 2nd, 2020
The replacement upgrades to install EMV CHIP reading terminals at automated fuel dispensers (AFDs) are in the process of being completed for many fuel and convenience retailers, and to avoid an expected increase in fraud, those that are in queue or just beginning their projects should not delay. With MasterCard being the final card scheme extending the deadline for EMV liability shift to April 2021, gas station owners and operators should focus on completing their payment equipment upgrades to avoid numerous issues, including greater risk of fraud, higher costs due to increased liability, and potential loss of customer trust, according to Transaction Network Services (TNS).
US-based fuel and convenience retailers and their AFDs are some of the last merchants to fully incorporate EMV technology — which uses an embedded microchip to provide an extra layer of data security for credit and debit cards — into their point-of-sale (POS) systems, because the labor and other costs associated with the technology upgrade at these retailers are expensive. Yet incorporating EMV technology at the pump can significantly reduce credit card “skimming” and other payment frauds — and once the EMV acceptance deadline passes, the liability for fraudulent transactions and counterfeit chargebacks will pass entirely to owners and operators.
“The time is here for gas station retailers to upgrade their AFD equipment — because, while there is no question it involves a significant investment, the inevitable liability shift means that businesses looking to avoid the fraud cost and brand risk will incur the costs at some point, whether now or in early 2021,” said Dan Lyman, Head of FinTech Payments for North America at TNS. “TNS recommends retailers address this now, so they can minimize the risk of having projects extend beyond the deadline and can gain EMV protection at the pump sooner rather than later.”
To help ensure transactions are secure and protected against fraud, retailers moving to EMV need to deploy certified Managed Network Service Provider (MNSP) network solutions like TNSLink, which connects purchases at the pumps and indoor point of sale locations with bank accounts and payments processors using the latest technology.
“TNS’ end-to-end MNSP solution supports the new hardware being installed at the pump while providing high levels of payment security, always-on connectivity, and 24x7x365 monitoring for not only the hardware but also the network connection,” said Lyman. “Our solution gives gas station owners and operators — and their customers — the speed, peace of mind and convenience they demand.”
TNS is certified as an MNSP by Gilbarco and Verifone and is a Level 1 PCI DSS certified service provider. Retailers can use TNSLink to connect their payment terminals securely and cost-effectively to TNS’ global payments community to support multiple payment applications, improve uptime and increase productivity. TNSLink leverages TNS’ global presence and established connectivity with more than 400 host payments systems, delivering secure and reliable managed services, supported 24x7x365 from three global Network Operating Centers.
As a trusted partner to the payments industry, TNS offers a broad portfolio of secure commerce solutions that include parking reservations, unattended payments, point-of-sale services, ATM connectivity and managed processing. In 2020, TNS celebrates 30 years of being a worldwide provider to global companies in the most mission-critical industries. Many of the most prestigious financial institutions, POS ISOs, ATM deployers and transaction processors rely on TNS for secure and resilient connectivity.