Discover Card Delays EMV Deadline To April 16, 2021
Discover is the latest card network to delay the October 2020 deadline for EMV upgrades to April 16, 2021 leaving MasterCard as the only major card network that has not delayed the EMV deadline.
The deadline extension is good news for petroleum marketers because it ensures that enough EMV vendors will be available to convert retail sites in a timely manner by the new April deadline.
Any significant backlog or delay in EMV scheduling due to the coronavirus pandemic would likely push installation past the original October deadline subjecting marketers with point of sale magnetic credit card readers to assume the liability for fraudulent card charges.
PMAA recently completed its own EMV survey over an 8-day period (April 30-May 7th) in which 253 companies participated in the survey.
The results clearly demonstrate that a significant number of retail stations are unable to meet the Oct 2020 EMV deadline. The COVID-19 pandemic only made matters worse. Click Here for the survey results.
PMAA will continue to monitor the EMV transition process to ensure petroleum marketers will have sufficient time for conversion without risk of exposure to liability.
