Managing the Financial Side of Commercial Fleets

Fleet FAQ? Fuel Management

Q. When will the industry move to 100% chip-enabled cards?

March 2, 2018, by - Also by this author

A. Not any time soon. There’s a deadline of 2020, but there’s significant expense and complexity when retrofitting gas pumps for chip card acceptance. It’s not just flip a switch. It’s something we will be ready for when they are, but retailers and Visa Inc. and MasterCard Inc. have delayed their plans to be compliant by October 2017. It’s great for us that liability for fraud at unattended fuel pumps will eventually shift – it is due to shift in October 2020 -- but until large numbers of pumps get EMV chip card readers, that will mean WEX, other card issuers, and gas stations will remain vulnerable to skimming fraud.

Author Bio

Bernie Kavanagh

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Senior Vice President and General Manager

A 27-year fleet professional, Bernie Kavanagh currently serves as Senior Vice President and General Manager of Large Fleet at WEX Inc. He joined the company in 1996 and his career has been a steady progression of increased sales and marketing responsibility. Kavanagh serves on industry related boards and is a frequent speaker at payment industry conferences focusing on fuel trends and technology in the payment space. He earned a bachelor’s degree from the College of New Jersey and is an active member of NAFA, AFLA, NCSFA and AALA. Prior to joining WEX, Kavanagh held a number of roles with Enterprise Rent-A-Car and Enterprise Fleet Management.

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