A look back at four years of Making “Point of Sale Profitable.”

Four years ago I wrote for the Georgia Association of Convenience Stores ways retailers can embrace technology and changes to the payment landscape to make their business more profitable. Four years later the technology is more critical than ever. Below you will find what I believe to be the most glaring issues four years later remain a problem

1.  Late EMV adoption by the industry caused massive fraud. Chargebacks saw a several-fold increase in store as people learned if you didn’t take their chip they didn’t have to pay. EMV Chargeback fraud was devastating to the industry. As we are about 24 months out from EMV at the pump, we need to learn from the OCT 15th inside lesson and protect our hard-earned money.

2.  Sadly, End to End encryption is still missing from the industry, and for less than a pair of Yeezys and a 10-dollar thumb drive, someone can hack your point of sale. This lack of End to End encryption has to change, and it is 100% on the hardware and software vendors to make this technology available.  

3.  EBT Fraud is on the rise. According to Inc. magazine fraud is up 61%, and investigations are up as well. It is up to all of us to stop EBT fraud. 

Visit gaspos.co to learn more about how we make a point of sale profitable.