The liability shift deadline for EMV compliance is fast approaching, and convenience and fuel retailers that need to upgrade their forecourt and other payment systems are invited to attend an instructional webinar offered by Transaction Network Services (TNS) in partnership with Mercator Advisory Group, the trusted global advisor to the payments industry.
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“We plan to offer clarity on what that means in real dollars, and this webinar will help store owners understand just how much they could be responsible for, especially as fraud will concentrate on the locations not upgraded.”
The July 28 webinar — which will be moderated by Ryan McEndarfer, Editor in Chief of PaymentsJournal, and presented by Brian DuCharme, Vice President of Product Management at TNS, and Tim Sloane, Vice President of Payments Innovation at Mercator — will help educate retailers on why waiting too long to upgrade their equipment could cost them big.
“Retailers realize that after April 2021, full liability shifts to the party in the payment chain with the least secure payment technology — meaning those who have not upgraded their automated fueling dispensers (AFD) equipment with EMV payment readers will pay for chargebacks from counterfeit cards,” DuCharme said. “We plan to offer clarity on what that means in real dollars, and this webinar will help store owners understand just how much they could be responsible for, especially as fraud will concentrate on the locations not upgraded.”
Mercator’s comprehensive, independent analysis found this increased liability following the deadline will result in mounting costs for retailers, with monthly losses stemming from chargeback fees, product loss and network non-compliance assessment fees.
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