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According to an article in BankInfo Security, Visa and Mastercard have given fuel pump terminal vendors an additional 3 years to add support for EMV.
Visa and MasterCard announced this week that they are pushing back their liability shift dates for counterfeit card fraud that results at non-EMV chip-compliant U.S. pay-at-the-pump gas terminals to October 2020 from October 2017.
That news is an early Christmas gift for convenience-store operators and the petrol industry, even though if it leaves issuers on the hook three years longer for counterfeit fraud that might result from a hack or skimming attack at self-serve gas pumps.
But I wonder how much fuss issuers will make about the extension. Counterfeit card fraud at gas pumps pales relative to retail point-of-sale and ecommerce fraud. And despite what we heard five years ago about pay-at-the-pump skimming reaching nearly "epidemic" proportions, we hear much less about it today. That's not to say it's gone away, by any means; but it no longer appears to be a looming epidemic
Visa and MasterCard made the right decision to give gas pumps a break on EMV. The question now is, will the three year extension be enough?
(Score: 2) by Appalbarry on Thursday December 15 2016, @12:24AM
Apropos of nothing, up in Canada, the GF still has a Mastercard that demands signature every time. She tried to get it changed to a PIN, it proved to be beyond the skills level of the bank employees in the branch, and she can't be bothered trying again.
Seriously, when was the last time that any card issuer actually looked at a signature unless there was an actual claim of fraud? And even if they did, what good would it do them to determine that they had a bogus signature?
I expect that your average credit card thief knows too well that you can scribble pretty much anything on the credit card slip.