GACS Today - Fall 2015 - (Page 17)
BY GAIL SHORT
CUSTOMERS IN GEORGIA AND
ACROSS THE NATION REGULARLY
SHOP AT C-STORES TO PURCHASE
EVERYTHING FROM GASOLINE TO
SNACKS AND SODAS WITH JUST A
SWIPE OF THEIR CREDIT OR DEBIT
CARDS. But changes are coming
later this year as U.S. retailers rush
to install new payment terminals that
will accept microchip enabled cards,
which experts say are more resistant
to counterfeit fraud.
Microchip enabled cards are based
on a global payment standard known as
Europay, MasterCard and Visa or EMV. The
standard is already in use in more than 80
other nations. EMV cards are embedded
with a microchip that creates a one-time
code with each new transaction, making it
almost impossible for thieves to counterfeit the cards to commit fraud. In contrast,
older cards have magnetic stripes that
use a single code, so thieves can attach
a device called a skimmer to a payment
terminal and steal card information.
But c-store owners have only until Oct. 1,
2015 to install card readers at their points
of sale that support the new chip technology and until Nov. 1, 2017 to have EMVready fuel dispensers. After those dates,
the liability for fraudulent charges and
security breaches will shift from the card
issuers to c-store owners and other retailers. Retailers who are not EMV compliant
will have to accept fraudulent transactions
as a loss and face possible lawsuits.
Ed Perkins, vice president of retail sales
at Jones & Frank, a Raleigh, N.C., company that distributes, services and installs
energy infrastructure across Georgia and
the Southeast, says they are busy helping
their customers to meet the deadlines.
"Right now we're focusing on educating customers on what will be required
of them to be EMV ready," Perkins says.
FALL 2015 | GACS TODAY
Table of Contents for the Digital Edition of GACS Today - Fall 2015
The 13th Annual Show
EMV Update: Who’s Ready?
Mobile Apps Offer Brand Recognition, Customer Engagement
Cigarette Sales Remain Steady
GACS Educational Foundation… Are You Taking Advantage of This Hr Benefit?
Vice President’s Message
Featured Advertiser Marketplace
Welcome, New Members!
GACS Today - Fall 2015