RIVERWOODS, Ill.--(BUSINESS WIRE)--In light of current economic and operational challenges merchants are facing, Discover is extending the EMV fraud liability shift effective date from October 16, 2020 to April 16, 2021, for contact chip transactions at automated fuel dispensers. The new date gives petroleum merchants more flexibility on installing new systems as many are dealing with economic and logistical challenges limiting their ability to make changes at their pumps due to the COVID-19 pandemic.
“With the current pandemic impacting merchants around the country, we looked at our mission to be a good partner, and believe that moving this date will ease the concerns for gas stations as they look to update their automated fuel dispensers,” said Andrew Hopkins, senior vice president of global products and pricing at Discover. “EMV has significantly reduced counterfeit fraud and we encourage our merchants to continue their efforts to migrate their fuel dispensers to EMV.”
Discover will continue to support the payments ecosystem through the migration to EMV payments by providing education, streamlining EMV terminal certification and promoting terminal self-certification programs.
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Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home loans, checking and savings accounts and certificates of deposit through its banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance around the world. For more information, visit www.discover.com/company.