Visa and MasterCard yesterday pushed back the date when liability for fraudulent transactions at gas pumps shifts to the party not equipped with EMV chip technology. Previously scheduled to take effect in October 2017, the shift will now happen in October 2020.
“The fuel segment has its own unique challenges, which we recognized when we first set the chip activation date for automated fuel dispensers/pumps two years after regular in-store locations,” Visa commented. “We knew that the AFD segment would need more time to upgrade to chip because of the complicated infrastructure and specialized technology required for fuel pumps…. Furthermore, five years after announcing our liability shift, there are still issues with a sufficient supply of regulatory-compliant EMV hardware and software to enable most upgrades by 2017.”
The card networks said that fraud rates at pumps are low, accounting for about 1.3 percent of total U.S. payment fraud. The liability shift at ATMs remains set for October 2017.Email This Post