VISA Declines To Extend Upcoming EMV Liability Shift Deadline
Visa has declined to extend the upcoming mid-April EMV liability shift deadline for another six months that EMA requested.
Last week, the Energy Marketers of America (EMA) along with NACS, SIGMA and NATSO requested that the card networks extend the EMV liability shift deadline for one final time through October 2021 to ensure small business fuel retailers have time to fully comply.
EMA recently heard from its state association member companies that major equipment and service providers are booked through this summer for EMV projects.
For example, Arkansas retailers are experiencing a six-to-ten-week lead time for EMV equipment to arrive plus another two to three weeks for installation. Rural small business retailers are also experiencing delays due to lack of technicians and equipment.
Due to the COVID-19 pandemic, the card networks extended the deadline from October 1, 2020 to mid-April 2021.
Specifically, the AMEX, Discover and Mastercard deadline is April 16th while VISA’s deadline is April 17th.
Given Visa’s refusal to extend the deadline, EMA urges retailers to be fully EMV compliant as soon as possible.