EMV payments coming soon to petroleum merchants
23/05/2012 - By Alexander Galasso
EMV card readers are being installed at gas stations in Canada.
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Canadian consumers who need to fill their gas tanks before getting back on the road might find their stops are shorter when they visit stations that accept EMV-chip and PIN cards for payments. Additionally, drivers can be sure their credit card information is handled securely when they insert their cards for payment processing
, since the confidential data is all stored on a microprocessor chip.
A payment solutions company recently announced
at the National Association of Convenience Stores technology (NACStech) conference that it had successfully completed point-of-sale terminal
transitions at more than 100 gas stations in Canada and the United Kingdom.
According to data from EMVCo
, the majority of Canadian retailers have already made the switch. More than 4.4 million terminals have been deployed in locations across Canada, Latin America and the Caribbean - that covers over 75 percent of merchants. And approximately four in 10 consumers carry cards that contain EMV chips, the study found.
As the cards become even more widely issued, it will become important for retailers to accommodate the payment method. Fortunately, the investment will likely pay off in the long run since some terminals are also capable of accepting contactless mobile payments that are expected to proliferate in the coming years.
Articles written by ChargeNational.com's editorial team. For more information, click here.
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