{"id":477878,"date":"2021-04-19T08:03:37","date_gmt":"2021-04-19T12:03:37","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/less-than-half-of-major-fuel-merchants-meet-extended-emv-deadline-according-to-new-aci-worldwide-data\/"},"modified":"2021-04-19T08:03:37","modified_gmt":"2021-04-19T12:03:37","slug":"less-than-half-of-major-fuel-merchants-meet-extended-emv-deadline-according-to-new-aci-worldwide-data","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/less-than-half-of-major-fuel-merchants-meet-extended-emv-deadline-according-to-new-aci-worldwide-data\/","title":{"rendered":"Less Than Half of Major Fuel Merchants Meet Extended EMV Deadline, According to New ACI Worldwide Data"},"content":{"rendered":"

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Less Than Half of Major Fuel Merchants Meet Extended EMV Deadline, According to New ACI Worldwide Data<\/b><\/p>\n

\nCOVID-19 pandemic continues to create major challenges for fuel merchants nationwide in meeting April liability shift deadline\n<\/p>\n

MIAMI–(BUSINESS WIRE<\/a>)–
\nNew data from ACI Worldwide<\/a> (NASDAQ: ACIW), a leading global provider of real-time digital payment software and solutions<\/a>, shows that as of April 17, 2021 \u2014 the extended EMV liability shift deadline \u2014 less than half (48%) of fuel merchants will meet EMV automated fuel dispenser (AFD) compliance mandates. As of the extended deadline, the liability for fraud will now shift from card issuers to fuel merchants.\n<\/p>\n

\nACI surveyed fuel merchants that collectively represent 45,000 gas stations nationwide \u2014 including major oil companies, grocers and convenience stores. The data showed that only 50 percent of fuel merchants who were not fully implemented expect to be EMV compliant by the end of 2021.\n<\/p>\n

\n\u201cAlthough previously protected from fraud losses, merchants will now bear the brunt of fraud overnight,\u201d said Debbie Guerra, executive vice president, ACI Worldwide. \u201cWhile EMV compliance is a major undertaking, and one that requires a significant capital investment, there is no doubt that the pandemic also played a big role in some fuel merchants\u2019 inability to meet the April deadline. With overall diminished resources due to the pandemic and slow testing and certification, which is typically done in person, merchants have certainly been challenged.\u201d\n<\/p>\n

\nThe ACI research also showed fuel merchants\u2019 increased interest in implementing important security and fraud prevention measures such as point-to-point encryption (52%) and tokenization (39%). In ACI\u2019s July 2020 survey, 37 percent were considering point-to-point encryption and 26 percent were considering tokenization.\n<\/p>\n

\n\u201cFortunately, for fuel merchants and their customers, the upgrades required for EMV at the dispenser will increase point-to-point encryption technology adoption. The additional bandwidth will allow merchants to secure all of their payments upfront,\u201d Guerra continued.\n<\/p>\n

Key Findings:<\/span><\/b><\/p>\n

\nEMV readiness by April 17 deadline:\n<\/p>\n