Mastercard, Visa Extend EMV Fuel Dispenser Liability
This release was issued by Mastercard today, Visa similarly extended its requirements. Source: Mastercard.com
Update on U.S. Chip Card Migration – Automated Fuel Dispenser Liability Shift
In 2012, we announced a roadmap in which all parties who use the Mastercard network – merchants, issuers, acquirers and others – would move to EMV chip technology. This approach was centered on a series of liability shift milestones built as incentives to move the U.S. payments market to a chip-enabled environment.
Over the past four years, we have worked together to deliver on that roadmap, reinforcing and delivering what consumers expect – a safe, secure and convenient way to pay. We have remained steadfast in this approach because driving safety and security in the payments ecosystem is a priority.
EMV compliance for fuel merchants with Automatic Fuel Dispensers brings significant regulatory and implementation challenges. Over the past months, we have had extensive discussions with fuel merchants, issuers, acquirers and other stakeholders regarding these unique challenges. Today, Mastercard is modifying the automatic fuel dispenser liability shift date from October 2017 to October 2020. This decision applies only to automated fuel pumps.
We are committed to EMV chip technology as the best and most effective solution for combatting counterfeit card fraud. It is a priority for Mastercard to ensure consumers can confidently shop anywhere, any time. We will be working closely with our fuel partners, station owners, industry associations and third-party vendors to ensure a smooth transition to EMV.
To further assist fraud mitigation efforts, we announced this week our Decision Intelligence suite of products. These tools will allow issuers to take advantage of the new artificial intelligence baked into our global network, improving the consumer shopping experience by increasing real-time approvals of genuine transactions and reducing false declines.
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Comment from Randy Vanderhoof, director of the U.S. Payments Forum:
“The unique challenges facing the retail petroleum industry in upgrading their outside pay-at-the-pump systems to EMV have been an active part of the EMV migration discussions over the last year within the U.S. Payments Forum and its Petroleum Working Committee. Given the migration challenges for implementing EMV in the petroleum environment, Visa’s and Mastercard’s modification of the liability shift dates will be beneficial to the retail petroleum industry and the U.S. chip migration.”
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