Visa and Mastercard announced Dec. 1 that they will delay the U.S. domestic automated fuel dispenser (AFD) EMV activation date from Oct. 1, 2017, to Oct. 1, 2020. The EMV liability shift at ATMs will still take effect as planned on Oct. 1, 2017.
EMV, which stands for Europay, MasterCard and Visa, is a global standard for credit and debit cards that are equipped with computer chips and the technology used to authenticate chip-card transactions. In the wake of numerous large-scale data breaches in the U.S. and increasing rates of counterfeit card fraud, U.S. card issuers are migrating to this technology, purportedly to protect consumers and reduce the instances and costs of fraud.
Visa said in a statement that the fuel segment has its own unique challenges, and that the AFD segment needs more time to upgrade to chip because of the complicated infrastructure and specialized technology required for fuel pumps.For example, in some cases, older pumps may need to be replaced before adding chip readers.
Visa said it will monitor payment trends at the pump to assist gas station operators and card-issuing banks in preventing fraud during the interim period.
Photo Credit: Birttany Palmer/NATSO
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