Introducing NRS Petro – An Affordable EMV Compliance System

This blog post was created by National Retail Solutions.
A provider of intuitive, all-in-one POS systems made for independently owned stores.
Learn more!

introducing NRS Petro solution

WHAT IS GAS STATION EMV COMPLIANCE?


In April 2021, new major credit card network regulations take effect that requires all gas stations in the United States to employ EMV-compliant credit card readers at the pumps. EMV-compliant pumps allow for more secure and convenient transaction options than the traditional magnetic strip swipe. EMV enabled pumps will be able to process sales through chip readers, contactless payment – more important than ever during the COVID pandemic – and through popular applications such as Apple Pay and Google Wallet. Customers will also no longer need to give their zip codes or sign credit card statements when using EMV-compliant payment methods. Gas stations that have not achieved EMV compliance by April 2021 are subject to non-compliance fees and a higher risk of fraud at the pumps.


WHY DO WE NEED IT/HOW DOES IT HELP? WHAT DOES IT STAND FOR?


The increasing use of chip readers, contactless payment and payment apps by savvy consumers combined with the vulnerability to fraud of traditional magnetic chip readers has made EMV- complaint pumps a necessity in the modern world. EMV compliance helps gas station proprietors by meeting their customer’s wants and needs, and by dramatically reducing fraud at the pump. The majority of fraud at gas stations occurs at the pump where criminals install skimmers that read customers’ sensitive, personal data stored in a credit card’s magnetic strip. One skimmer scheme alone in Florida at gas stations and ATMs recently defrauded consumers of more than $100 million. Through EMV compliance, potential loyal customers who may be avoiding your gas station for fear of fraud will now be able to fill their vehicles at your business with confidence. EMV simply stands for Europay, MasterCard, and Visa, the 1994 founders. It commonly refers to a credit card with a smart chip. The EMV standard is a secure technology used worldwide for all payments done with credit, debit, and prepaid EMV smart cards.


HOW WILL THIS AFFECT SMALL BUSINESSES?


Not being prepared for the new gas station EMV deadline mandate can cost independent merchants tens to hundreds of thousands of dollars. Replacing just one pump for EMV-compliance can drain a merchant’s wallet between $10,000 and $20,000. Figuring a typical station has four pumps, plus the cost of ripping up concrete and loss of business continuity, independent service station owners are looking at a $150,000 to $200,000 loss. Those ‘”lucky enough” to retrofit rather than replace their pumps can expect to spend upwards of $5,000 to $10,000 per pump. Add in the cost of new POS systems and the cost balloons to between $40,000 and $60,000 per location.


But sky-high pump replacements or retrofits aren’t gas station owners’ only options. Using NRS Petro, starting at $999 per fueling point, independent merchants can upgrade their pumps at a fraction of the cost without suffering business downtime. NRS Petro, unlike the competition, offers a unique, highly approachable program that realizes tremendous savings for business owners, stems further bleeding of funds by preventing loss of business continuity, and safeguards customers’ sensitive personal data to help prevent fraud and identify theft. The worry-free system applies to almost all existing gas pumps in the market – no pump is outdated for NRS Petro except for mechanical ones which are far and few between and would need to be replaced regardless of NRS Petro – easily saving tens of thousands to hundreds of thousands of dollars. There’s no heavy construction work involved or down time, it can phased in pump by pump, eliminating altogether the loss of business continuity and installation takes hours rather than days or weeks.


IS EMV TECHNOLOGY SAFE FROM FRAUDULENT ACTIVITY


EMV technology is dramatically safer than swiping and greatly helps protects customers against the risk of fraud, drained bank accounts and identify theft, especially when using the NRS Petro program. NRS Petro offers confidence-building features for gas station patrons. Transactions can be conducted at the register or 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. This extra layer of security goes a long way toward instilling trust in today’s ever- knowledgeable consumer.


Using NRS Petro, independent gas station owners can save significant money on a very manageable conversion process and attract more customers who may be wary of using non- EMV-compliant stations. In the long run, through NRS Petro, EMV compliance can help gas station proprietors increase rather than drain profits.



520 Broad Street

Newark, NJ 07102

1-833-289-2767
info@nrsplus.com



Use Electricity and Natural Gas at your home or business? Visit Genie Energy to choose a plan, pricing, options, rebates and rewards unavailable from the local utility company.

Net2phone's world-class business phone system keeps your business running in and out of the office. Visit net2phone.com to learn more.

Copyright © 2021 National Retail Solutions, Inc. All Rights Reserved. Privacy Policy | Sitemap