Retail News

Visa and Mastercard tell gas stations to make chip card upgrades

Fortune 01/07/2020

Visa and Mastercard say gas stations that fail to upgrade their pumps to use chip cards will be liable for any credit card fraud beginning in October. Joshua Smith, CEO of Gas Pros, said the industry is “massively under-prepared” to meet the credit card companies’ deadline. “There’s not enough technicians to do the installments,” Mr. Smith said. “There’s not enough inventory. Even if there were enough contractors, there’s not enough dispensers available.”

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