It is estimated that almost one-third of forecourt dispensers will not be fully upgraded to be in compliance with the credit card companies’ EMV stipulations by the April 17 deadline. To make arrangements for EMV-compliant equipment upgrades, please reach out to your local Source representative immediately.
Time is of the essence for fuel marketers: the U.S. experiences about $400 million a year in fraudulent fueling charges. In addition to the liability for card fraud at the pump switching to fuel retailers in April, fuel marketers who have not completed upgrades may face non-compliance fees from processors. It has also been reported that Shell wholesalers will be charged monthly fees beginning May 1 for each Shell station not in compliance. Fees will start at $250/month in May and increase to $500/month in July. It is probable that other oil companies will take similar approaches.