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Industry Challenges

The Petroleum industry has a mandate to move to EMV by 2021. Due to the infrastructure constraints, this can be a costly endeavor for Petroleum Stations (can be between $60k-$200k or more for a smaller location). In the petroleum industry, the lack of cost-effective, simple solutions that allow for innovative consumer services while handling EMV puts many small to medium-sized companies at a disadvantage.

Endorsed by PAX Technologies, Sound Payments Petro Solutions has an answer to enable EMV without full construction. Our unique approach to this market allows it to provide a cost-effective multi-point, cloud-based solution that delivers EMV without the many hassles of traditional installation. Some of the hardships companies face include:

 

  • Competition in the market and high costs of equipment and technology solutions that help differentiate

  • Bringing equipment and tanks up to the latest environmental industry requirements

  • Complexity of integrating new technologies (wallet apps, loyalty programs, etc.)

  • Challenges in accepting newer payment methods

  • Difficult to connect multiple end points

  • Difficult deployment, installation and potential for disruption to daily operations

  • Ability to leverage processing options is difficult

  • Payments, fully-integrated, are in PCI scope

  • Industry certifications for Fuel EMV still take 9+ months to complete through the integrated system

  • EMV certification impacted by any payment changes or register changes

  • Vendor readiness for EMV Certifications and impact of their solution

  • Liability shift moved to 2020, but leaving AFD (Automated Fuel Dispenser) a target for fraud