EMV Technology and what it means to your business.
I’m sure you have been hearing all kinds of rumors over two certain dates in the near future, those being: October 1, 2015 and October 1, 2017. The dates are correct, however what you have been hearing about those dates and what you must do before those dates might not be. Here is the story.
The US has been lagging behind in CRIND technology in comparison to the rest of the world. We are still using the mag strip credit card. Canada converted to what they call “Chip and Pin” well before us and they have been using this technology for some time. They call it, EMV. European Master Visa Chip and Pin Technology.
What does this mean to you, the retailer? EMV approval is granted through three different levels:
hardware compliance, software compliance and POS systems compliance.
This process is not cheap, but if done correctly and if you work closely with all of us at Pump and Meter it can be done efficiently and with little disruption to your business. Each upgrade will be different depending on the retailer’s site. I'll break down the process for you.
The Passport Version 10 software comes with EMV technology. You can replace your existing Ruby Sapphire with a new Passport System. A new system will come with version 10 software. If you currently have a Passport, a simple upgrade is all you need. There will be minimal downtown during the upgrade process. Along with your software upgrade there will need to be a pin pad upgrade as well.
Your dispensers come next in the upgrade process. Any dispenser that is an Encore 300 or newer is eligible for the Flex Pay II Retrofit Kit. This retrofit includes: 5.7” color display, USB Graphical Printer, TDES Serial Encrypted Pin Pad and the Chip and Pin Card Reader. We can switch these out with zero downtime for your site just a couple hours/dispenser. Currently
Currently Gilbarco has a promotion going on for these retrofit upgrades. With a signed contract for Applause TV, you receive each upgrade for $500.00/dispenser (not including labor). This is over a $2,000.00 value. You do not want to pass this up. Call with questions on this promotion.
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Posted on Fri, August 8, 2014
by Kurt Radermacher