Payments News

Gas stations rush to adopt chip-card readers at fuel pumps (MAG mention)

Jan 08, 2020

Gas stations nationwide are rushing to upgrade fuel pumps to accept credit and debit cards with chips after Visa Inc. and Mastercard Inc. rejected a request to delay a looming deadline to complete the work.

Beginning in October, U.S. gas station operators that haven’t modernized their pumps will face liability for any card fraud that happens at their businesses. The industry is “massively underprepared,” said Joshua Smith, chief executive 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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