ATLANTA -- "This EMV upgrade cycle presents opportunities for both jobbers and dealers to optimize their capital equipment financing structure, their balance sheet, and their customers' experience," said Chris Santy, president of Patriot Capital Corp.
Santy will speak at the Outlook Leadership 2014 conference at The Fairmont Scottsdale Princess in Scottsdale, Ariz. on Nov. 18, 2014. The event, produced by CSP Business Media, provides workshops for senior convenience store executives to improve their profitability and grow their industry knowledge.
Santy's presentation will address the challenges and opportunities that convenience store owners face in upgrading their sites to be compliant with upcoming EMV (Europay, MasterCard & Visa) payment standards for in-store point-of-sale (POS) and outside payments terminals (OPTs), such as gas pumps and car wash payment kiosks.
Parker Burke, director of payment and mobile for Gilbarco Veeder-Root, will join Santy to present a workshop titled EMV Unwound. Their session is designed to explain what is--and is not--accurate about the compliance requirements related to PCI and EMV standards. The presentation will include insights into how gas pump EMV-certified upgrades have been enabled in Europe and Canada, changes in the capital equipment financing markets since 2008, and current best practices in equipment financing and equipment leasing to optimize capital structures.
EMV is a payment standard requiring retailers to have EMV-certified payment platforms in order to avoid a significant liability shift. There are two EMV upgrade deadlines that retailers need to be aware of:
- October 2015, liability will shift to acquirers for domestic and cross-border counterfeit fraud card-present POS transactions if the merchant does not have an EMV-enabled POS device in use inside their convenience store.
- October 2017, liability shift takes effect for transactions generated from automated fuel dispensers (AFDs).
Patriot Capital, Atlanta, provides equipment financing to retailers in the convenience store and retail petroleum fueling industries. It is the leading provider of capital equipment financing and leasing to the National Association of Convenience Stores (NACS) and the Society of Independent Gasoline Marketers of America (SIGMA) members.
Gilbarco Veeder-Root, Greensboro, N.C., is a technology leader for retail and commercial fueling operations. It offers a broad range of integrated solutions from the forecourt to the convenience store and head office.
Oakbrook Terrace, Ill.-based CSP Business Media, publisher of CSP, Convenience Store Products, FoodService Director and Restaurant Business magazines, is a market-dominant, business-to-business, multi-media communication company specializing in the convenience retailing, restaurant and on-the-go food industries. In addition to its print products, CSP Business Media has an extensive portfolio of online products including e-newsletters (such as CSP Daily News), websites, web conferences, CSPTV and other video products, mobile applications and custom solutions. And CSP Leadership Conferences & Events produces more than 20 major EduNetworking live conferences and focused meetings.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.