Payment innovation leader urges business owners to begin migration process as looming deadline nears
BRENTWOOD, Tenn.–(BUSINESS WIRE)–Comdata Inc., a FLEETCOR company and world leader in payment innovation, today announced the company is increasing support for truck stop merchants to complete the required EMV migration ahead of the Spring 2021 deadline, a six-month shift from its original Fall 2020 deadline. All automated fuel dispenser (AFD) merchants will now be required to meet the new compliance standards by April 2021.
Comdata, who has been at the forefront of innovative payment solutions and technology for the transportation sector, is boosting its support for truck stop owners to complete the EMV migration ahead of the extended deadline. Faced with increasing fraud levels and industry-wide security complications, the leading global payment issuers established a new standard for payment processing using EMV chip technology in 2015. Yet, as the COVID-19 pandemic halted business operations for the transportation industry, many business owners were forced to delay the migration process.
“EMV technology is becoming the industry-wide payment processing standard for truck stop owners,” said Bob VanFleteren, Vice President of Sales for Comdata. “The extended deadline offers business owners some breathing room to complete the migration process, but there is still urgency around meeting this new standard on time. We are well-positioned to help customers through this process, and now is the time for businesses to start pushing ahead to complete the EMV migration process and avoid the potential price increases that may accompany demand during the first months of 2021.”
Merchants that complete the EMV migration process may benefit from potential incentives led by the payment industry’s major oil companies to help offset the costs of upgrading their pumps and dispensers that may be missed by delaying. Waiting to meet the new industry standard might also create higher physical equipment upgrade costs and delays for businesses.
“As the nation returns to work and businesses reopen, the transportation sector is expected to continue its progress towards meeting the EMV industry standard. The lower volumes at truck stops and stores today makes it an ideal time to prepare and complete this process,” said Scott Spencer, Senior Vice President and GM of Comdata’s Merchant Services business.
To learn more about the options available to complete your business’s EMV upgrades, customers are encouraged to contact their sales representatives or Bob VanFleteren at bvanfleteren@comdata.com.
About Comdata
Comdata Inc., a FLEETCOR company, is a leading provider of innovative payment and operating technology that drives actionable insights from spending data, builds enhanced controls and positively impacts its clients’ bottom lines. The company partners with more than 30,000 businesses to better manage $55B in annual fleet, corporate purchasing, payroll and healthcare spending, making it one of the largest fuel card issuers and the largest commercial Mastercard provider in the United States and Canada. Founded in 1969 and headquartered in Brentwood, Tennessee, Comdata employs more than 1,300 professionals across North America. To learn more about Comdata Inc. visit www.comdata.com.
About FLEETCOR
FLEETCOR Technologies (NYSE: FLT) is a leading global business payments company that simplifies the way businesses manage and pay their expenses. The FLEETCOR portfolio of brands help companies automate, secure, digitize and control payments to, or on behalf of, their employees and suppliers. FLEETCOR serves businesses, partners and merchants in North America, Latin America, Europe, and Asia Pacific. For more information, please visit www.FLEETCOR.com.
Contacts
Trish DaCosta
KCD PR (for Comdata)
tdacosta@kcdpr.com
(619) 955-7759
