GACS Today - Fall 2015 - (Page 17)

feature EMV Update: Who's Ready? 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 17

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?
President’s Message
Vice President’s Message
Featured Advertiser Marketplace
Welcome, New Members!

GACS Today - Fall 2015

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