May 6th, 2004
EMV Compliance in the Retail Oil Industry
By Matthew Barnes
Abstract
The initiation of new card standards by Europay, Mastercard and Visa under
the banner of EMV has meant merchants must migrate their traditional magnetic
stripe payment systems to EMV-compliant smartcards systems or be held liable
for card fraud.
The retail oil industry is looking to replace not only in-store payment
terminals, but also those located on service station forecourts for customers
to pay at the fuel pump. However, terminal vendors have not sufficiently
addressed the requirements of EMV certification and the requirements of
related standards in their products to date.
Pressure from national governments to enforce these card security standards,
combined with the rapidly evolving smartcard market suggests that the needs
of the retail oil industry for outdoor payment terminals will not be met
by traditional terminal suppliers.
