Cybersecurity
Visa, Mastercard Delay Deadline for Upgrade of Gasoline Pumps
- October 2020 will be new deadline to comply with EMV
- Station owners needed time for multibillion-dollar work
Fuel nozzles sit outside a gas station in Creve Coeur, Illinois.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Visa Inc. and Mastercard Inc. pushed back the deadline for installing chip-card readers in U.S. gasoline pumps after station owners complained they didn’t have enough time to complete the multibillion-dollar upgrades.
The world’s largest payments networks will give merchants until October 2020 to adopt the technology, three years later than previously planned, the companies said Thursday in separate statements. Visa said it will monitor payment trends at the pump to help gas-station operators and card-issuing banks prevent fraud during the interim period.