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01/10/2020
Visa and Mastercard Say No to Delaying Deadline for Gas Pump Chip Card Upgrades
Fortune
Gas stations around the U.S. are rushing to upgrade fuel pumps to accept credit and debit cards with chips after Visa and Mastercard rejected a request to delay a looming deadline to complete the work.
Beginning in October, station operators that haven’t modernized their pumps will face liability for any card fraud that happens at their businesses. The industry is “massively under-prepared,” said Joshua Smith, chief executive officer of Gas Pos, which sells point-of-sale systems.
“There’s not enough technicians to do the installments,” Smith said. “There’s not enough inventory. Even if there were enough contractors, there’s not enough dispensers available.”
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