The credit card industry in the U.S. underwent a liability shift October 1st of 2015. The one major exception to the October 2015 liability shift has been automated fuel dispensers. Automated payment terminals at the pumps were given until October of 2017, to comply with the new standard.<\/p>\n
Upgrading a gas pump payment terminal is more expensive than what other retailers face upgrading a typical credit card reader.
\n\u2022 First, the cost of replacing the payment terminal itself.
\n\u2022 After replacing gas station\u2019s payment terminal, it also needs to re-certify the entire pump, which costs additional time and money.
\n\u2022 Gas pumps also have to be certified by state officials, to make sure that they are dispensing and charging correctly.<\/p>\n
Consumers need to be vigilant while gas stations are getting a break, the card might be exposed to counterfeit credit card fraud, because whenever the card is swiped the traditional way using the mag-stripe, that EMV chip is not doing anything.<\/p>\n
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The credit card industry in the U.S. underwent a liability shift October 1st of 2015. The one major exception to<\/p>\n