Important Reasons Behind Major Oil Companies Opting For POS Software

A Gas Station in USA

You will be surprised to know that the US market for retail gasoline is huge. Major brands of USA have done a lot of investments in this sector. The retail gasoline industry has severely exposed to consumer fuel. But it is a matter of concern that extensive frauds are occurring in the gasoline pumps.

Careful on Fraudulent Transactions

Generally, the websites of these branded companies are handled by different dealers. So, it is very hard to know whether those dealers or whole sellers are doing any type of frauds while transacting. This type of fraudulent transactions is growing rapidly. The US government is losing a huge amount of money due to this type of rogue transactions.

An EMV Enabled Payment Card

Those fuel retailers who haven’t updated their POS systems to EMV compatibility will face great problems in the future. The deadline is by October 2020. These retailers have to act very fast in this matter.

EMV Enabled Card Payment

Nowadays, the EMV liability shift is becoming more & more important. There are two types of liability shifts- indoor & outdoor. The indoor liability shift can be done very easily but the outdoor one is very tough & is a matter of grave concern.

A Petro POS System

The concept of a pump controller is very different than a Petro POS system. The pump controller is the system who controls all the payment processing of a retail gasoline pump. So, the connection of a pump controller to a Petro retail POS system is a very complex task.

Shell Oil Company Sign Board

But it is believed that now things are getting completely changed. Nowadays, more & more pump retailers are trying to get this liability shift of EMVs. Some of the top brands who are working on this matter are Gilbarco, Wayne Pumps, Shell Vantage retails etc.

A Gilbarco Gas Station

Although this is a great more to connect the branded gasoline pump retailers with the EMV upgrades it is very costly. It is a general sense that if you want to decrease the problems of frauds then it will take a lot of cost, effort & time.

A POS System

Although with the use of POS software, the retailers have minimized the fraudulent incidents & have improved their profits a lot & also it is seen that the number of fraud cases has been minimized but still there is a serious problem.

Checkout this video to get a basic introduction of a basic POS system:

The problem is that still there are a lot of locations around the States which are vulnerable i.e., still there are some petroleum locations which haven’t done any type of EMV options or haven’t done any upgrades. So, it can be predicted that if these fraudsters get a chance to find such a place then they will rob the branded companies severely.

Mobile Payments

Some of the big brands are already using mobile payments. They have set EMV upgrades. They are also telling their customers to do mobile payments or cashless payments. The most important principle of these major companies is to protect the transactions of their precious customers.

A POS Device

But mobile payments are day by day getting more famous than the POS payment systems. You won’t have to enter your confidential PIN or other codes to the POS devices now. It is seen that there are hidden cameras directed to these POS terminals which are used to steal the confidential information of your customers. So they are encouraging their customers to do more & more mobile payments via apps. Trust me, guys!! Mobile payments are very secure nowadays.

It is assured that with mobile payments your payment information won’t be available to the fraudsters. Customers can do mobile payments anywhere in the world. They can do it inside their home, in their car or office, anywhere. Even the mobile payment apps update themselves automatically periodically.

Card Loyalty Programs

Even it is seen that brands are launching loyalty, rewards or discount offers in their mobile payments. The customers will get discounts on the purchase of fuels from retailers. As already said the customers don’t have to enter any type of PIN or any type of information as they are not using any type of POS devices.

A Secured POS System

To defeat frauds, fuel retailers have to install a very high level of security in their POS devices or mobile payment apps. But we have to keep in mind that EMV upgrade is not a single solution for all the frauds, no matter if you are doing POS transactions or mobile transactions.

Then what is the solution?

You have to perform:

• Continuous inspection of all the POS devices of petrol pumps.
• Inspecting all the security levels of the pumps.
• Systematic & repeated training of all petrol pump employees of the above-mentioned frauds & how to handle it.

A Petrol Pump POS System

Finally, it can be said that with POS terminals or mobile payments you can have a great & secured payment option.