NEWARK, N.J., Oct. 27, 2020 /PRNewswire/ -- National Retail Solutions (NRS), the leading point-of-sale platform for independent convenience stores, today announced the launch of its NRS EMV EZ Pump Solution, a convenient, affordable pay-at-the-pump retrofit and payment processing service that accepts EMV (chip) payment cards.
Beginning in April of 2021, major credit card companies plan to hold gas stations liable for fraudulent purchases, chargebacks and other counterfeit transactions if they have not converted to accept chip card payments at each pump and payment point.
The NRS EMV EZ Pump Solution offers gas station operators nationwide an affordable, easy to install, set-up and operate pump retrofit and payment processing solution that accepts EMV payments and complies with EMV standards.
The alternatives to the NRS EMV EZ Pump Solution are often more expensive and may entail substantially more disruption to station operations during installation. New EMV-compliant gas pumps can cost $20,000 or more plus installation and associated downtime. Retrofit kits offered by gas pump manufactures can cost $5,000 to $10,000 or more per pump.
Eric Goldberg, Vice President of NRS Petro, NRS' new division for fuel retailer solutions, said, "Independently owned gas station owners are deeply concerned by the April 2021 outdoor EMV liability deadline. Some are considering closing altogether because they cannot afford the high costs of new pumps or manufacturers' pump retrofits. Fortunately, the NRS EMV EZ Pump Solution is EMV compliant, cost-effective, entails minimal disruption and is easy to operate. Owners should fully explore all their options before they make their compliance decision. I strongly urge them to contact NRS Petro today to learn how affordable and beneficial EMV compliance can be."
The NRS EMV EZ Pump Solution also accepts contactless payments, mobile wallets, tap to pay, and other options to eliminate common touch points at the pump – an important feature during the Covid-19 pandemic.
The NRS EMV EZ Pump Solution includes NRS Pay credit card processing to provide integrated credit card processing at hyper-competitive rates for additional savings. NRS Pay also works hand-in-hand with NRS Petro's point-of-sale (POS) terminals for retailers who want a fully integrated management system and flexible loyalty program.
Elie Y. Katz, President and CEO of NRS, commented, "NRS Petro's POS terminals and the NRS EMV EZ Pump Solution with NRS Pay operate together as an integrated system. They make EMV acceptance and payment processing more affordable and make it much easier for store owners and managers to organize their store, attract customers and increase revenue."
About National Retail Solutions (NRS)
National Retail Solutions, Inc. (NRS), a subsidiary of IDT Corporation (NYSE: IDT) offers a point-of-sale (POS) platform for independent c-stores, gas stations, grocery, liquor and tobacco stores nationwide. The NRS platform provides robust hardware with powerful merchant software to help retailers compete more effectively, organize their business, attract customers and increase revenue. NRS' credit card processing service, NRS PAY, offers processing that integrates seamlessly with the NRS point of sale system or that can be used independently. For more information, visit nrsplus.com.
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SOURCE National Retail Solutions