New regulations requiring gas stations to implement EMV compliant pumps that go into effect in April 2021, have been understandably causing massive stress, especially among independent station owners, due to the exorbitant cost of upgrading, replacing or retrofitting their pumps, not to mention lost business due to shutdown of the pumps as the work takes place.
The perhaps one silver lining is that EMV compliance means pumps will be able to accept credit card chips, contactless payment, and payment applications such as Apple Pay and Google Wallet rather than relying on swiping magnetic strips. There’s also no longer the need for the customer to give up their zip codes or sign credit card statements.
The new payment methods are significantly safer than swiping and greatly protect customers against the risk of fraud, drained bank accounts and identify theft. The reputational damage brought about by identity theft and fraud can take years to recover from, for both consumers and your business. Through Gas Pump EMV compliance, potential loyal customers who may be avoiding your gas station for fear of fraud will now be able fill their vehicles with confidence.
The question now becomes what company to choose to bring your station into EMV compliance before the looming April 2021 deadline. The NRS Petro program is the stress-free, approachable solution to ensure that independent gas station owners and their customers alike will rest easy. For gas station owners, NRS Petro realizes tremendous savings. Unlike competitors, NRS Petro provides EMV compliance software and hardware upgrades at a very reasonable cost whether they are years or decades old, installation can be phased in pump by pump and takes just hours, not days or weeks, keeping business continuity flowing without interruption.
Furthermore, the NRS Petro program presents a distinct advantage over other companies in protecting consumers’ personal information and boosting customer confidence. Transactions are conducted at the register and at the pump. If tampered with, a unique, built-in trigger alert system in the NRS EMV EZ PUMP device at the pump will automatically disable the card-processing terminal. The extra layer goes a long way toward instilling trust in today’s ever-knowledgeable consumer.
Consumer confidence in gas station anti-fraud measures cannot be underestimated. The statistics regarding gas service station fraud is absolutely staggering. Using card reader skimmers and other methods in places like gas station pumps and ATM machines across the country, criminals have obtained customer’s sensitive personal information in droves. According to the Conexxus, the industry organization dedicated to standards, technologies innovation and advocacy for the convenience store and petroleum market, fraud at fuel pumps is expected to total $451 million by the end of 2020. One skimmer scheme alone in Florida recently defrauded consumers of more than $100 million.
By choosing NRS Petro, gas station owners needn’t worry about the costly ramifications of fraud at the pump. Learn more about NRS Petro and don’t let your service station become a fraud statistic that literally drives customers, and their business, away.