Dec. 15, 2016
Visa, MasterCard, Discover … and now American Express has announced it will extend the effective date of its EMV fraud liability shift for U.S. fuel merchants by three years to October 2020.
According to a press release from the company, "The extension will give U.S. fuel merchants increased flexibility in their fight against fraud by providing additional time to upgrade their automatic fuel dispenser systems to accept EMV chip cards."
In line with the other major card brands, AmEx cited "unique circumstances" and "complexity of the hardware upgrade" as reasons for the decision to postpone the liability shift.
"We want to ensure these merchants have the time necessary to work through this process," AmEx Senior Vice President of Global Network Business Jaromir Divilek said in the release.