When it comes to retail technology, many convenience store retailers find they are playing catchup. Oftentimes, they are following the lead of competitive channels, like in the case of Amazon and its frictionless checkout stores, or big-box and grocery stores and their buy online, pickup in-store platforms.
For the most part, lagging others in tech innovation may impact a c-store operator's ability to attract — and retain — customers as they’re beckoned to try something new at other outlets. However, when it comes to EMV compliance, lagging could cost convenience and fuel retailers big bucks.
According to a recent Conexxus survey, only 15 percent of fuel retailers, fuel distributors/wholesalers and major oil firms have fully deployed EMV-compliant payment systems at their fuel pumps. This new research followed a 2019 Conexxus survey, which found the vast majority of sites were fully in-store EMV operational (86 percent), but only 14 percent were fully EMV operational on the forecourt.
That's hardly any progress. If those who have upgraded their automated fueling dispensers only grew by 1 percent over the course of a year, is it reasonable to think the industry will reach full compliance — or near-full compliance — in roughly nine months? What's even scarier is that Conexxus fielded the survey from Feb. 27 to March 3, prior to the news that the deadline was pushed back to April 2021.
