C-Store Compliance Costs: How to Regain Control

Imagine you just bought a new house, and with it a bunch of new electronics like a TV and a sound system. It all plugs in just fine and does what you want it to do.  

Now imagine five years later you move to a new house; you take all those electronics you bought with you, and you look at the wall and all the plugs have changed.  

That’s our world in the era of EMV.

Payment compliance is a necessary part of any c-store’s operation. It evolves as new technologies emerge, forcing retailers to stay vigilant. However, the path to compliance is fraught with challenges. Let's explore how we got here, how it’s affecting us, and what Invenco by GVR is doing to blaze a new trail for retailers.

Chipping Away at Fraud

The regulatory landscape is in constant flux, driven by technological advancements, changing consumer behaviors, and emerging threats. Magstripe technology was once the pinnacle of payments, and now we can pay simply by holding our phone (or even our smart watch) near the payment terminal. 

One of the most notable changes from the timeline above is EMV, which set out to reduce fraud. Countries where EMV chip technology is used, like the US, UK and Canada, have all seen a significant reduction in counterfeit card fraud.  

The Ripple Effects of EMV

On the surface EMV is great, but the required certifications pose a new challenge. It’s not a one-time effort but an ongoing process. Like our power outlet example from the beginning, the required changes are cumbersome, costly, and frequent.  

One EPS change can carry with it anywhere from two L3 certifications to 18. That’s not even accounting for the L1 and L2 certifications that are required.