***EMV Liability Shift at the Forecourt has been Postponed***

Visa has announced a three-year postponement of the liability shift date for self-serve gas pumps to be certified to process smart chip card transactions. Instead of the original date of Oct. 1, 2017, it is now Oct. 1, 2020, according to an announcement on Visa's website.
 
The company acknowledged that "five years after announcing our liability shift, there are still issues with a sufficient supply of regulatory-compliant EMV [Europay MasterCard Visa-standard] hardware and software to enable most upgrades by 2017."
 
Stating that "fraud rates at fuel pumps are relatively low -- approximately 1.3 percent of total U.S. payment fraud," the company explained that it is moving the liability shift date and that, "We believe we have reached a balanced conclusion for providing needed, additional time to merchants while continuing to push forward with the migration to chip."