Payments News

Where EMV Spells Headache

May 08, 2019

With almost 18 months to go, the petroleum industry is having a hard time with a crucial EMV deadline. Not many gas stations are expected to make it. Here’s why.

It’s halftime in the runup to the October 2020 deadline set by Visa Inc. and Mastercard Inc. for gas stations to install in-pump EMV card readers, and the latest line on whether the industry will reach full compliance, or only a portion will, is: pick ‘em.

What’s even more worrisome for Visa and Mastercard, which have already extended the petroleum industry’s deadline for EMV compliance by three years, is this: If full compliance is not reached, handicappers refuse to predict what percentage of stations will be EMV-compliant come October next year.

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