The payment liability shift at the pump is fast approaching with an April 2021 target date. The transition to EMV terminals will address significant fraud issues that occur at gas stations.
Now ACI Worldwide and Gilbarco Veeder-Root are partnering on an enhanced security solution that will not only benefit retail fuel dealers, but also C-stores that are commonly located at the same location. Many gas retailers may not meet the April EMV conversation date, and will find themselves on the hook for fraudulent payment transactions.
The following excerpt from a StreetInsider.com article reports more on the topic:
ACI Worldwide, a leading global provider of real-time digital payment software and solutions, and Gilbarco Veeder-Root, the worldwide leader for retail and commercial fueling operations, announced today that they are collaborating to jointly certify the ACI point-to-point encryption (P2PE) data security offering—enabling merchants to protect millions of consumers who use debit or credit cards at their fuel pumps. The technology will also allow merchants to avoid millions of dollars in losses resulting from data breaches and fraud.
“As the first manufacturer to bring an outdoor EMV solution to market, we are now looking beyond the concerns of magstripes and skimming to a new threat attacking businesses in new ways,” said Dan Witkemper, director of North America Payment Marketing, Gilbarco. “ACI not only has an industry-leading P2PE solution but decades of experience serving the fuel and convenience industry, and we are excited to work with them to jointly provide this new security offering. Together, we will provide the industry with unmatched data security, preventing data breaches as we approach the EMV liability shift.”
“Fuel and convenience store retailers are dealing with growing payment complexities as well as growing fraud and data breaches—both at the pump and in-store—making it more challenging to keep sensitive cardholder data safe,” said Debbie Guerra, executive vice president, ACI Worldwide. “EMV compliance is one layer of security, but P2PE increases protection levels; through our strategic partnership with Gilbarco, we’re delivering a joint secure payments platform with unified and agnostic P2PE capabilities that solves these challenges and further supports readiness for this year’s EMV liability shift.”
Overview by Raymond Pucci, Director, Merchant Services at Mercator Advisory Group
