Fuel marketers and C-store retailers that are actively seeking financing solutions for their EMV in-store and fuel dispenser conversions will soon find the upgrade path has become even easier.
At the forthcoming National Association of Convenience Stores (NACS) Show, Patriot Capital Corporation will showcase an unique equipment financing program – called “Easy EMV” – to assist NACS members with their upcoming EMV upgrades to gas pumps and point-of-sale systems.
The program, devised for multi-site fuel jobbers and convenience store operators, provides a selection of financing and leasing options to assist in upgrading gas pumps for EMV prior to the October 2017 forecourt liability shift. The program can also be of assistance to retailers who need to finance in-store payment equipment upgrades (POS) – especially in light of the recently passed Oct. 1 deadline for EMV compliance. The deadlines will be enforced with a liability shift impacting retailers if they become victims of credit card fraud by accepting credit or debit cards at a legacy “mag-stripe” terminal.
“Fuel jobbers, marketers and site operators have been asking how they can make their investments in EMV equipment match their cash flow and sales, rather than being saddled with a one-time capital cost,” said Chris Santy, President, Patriot Capital Corp. “In response to these inquiries, we have developed ‘Easy EMV’ as a way that fuel marketers and dealers can have options in financing their gas pump EMV upgrades or in completing their POS upgrades for EMV.”
The program will be formally introduced at Patriot Capital’s booth – No. 6015 – at the NACS show, which runs from Oct. 11-14 at the Las Vegas Convention Center.
The innovative program provides three levels of participation for financing new or EMV-upgraded gas pumps, along with funding that addresses the related costs of installation, shipping and taxes, and, if needed, underground storage tank upgrade financing.
“We are proud to be working with a range of jobbers and dealers to develop EMV plans based upon the fuel retailers specific goals,” Santy continued. “Patriot Capital Corporation’s relationship with major point-of-sale equipment and gas dispenser manufacturers has enabled them to consolidate the needed information about what the EMV liability shift means to C-stores and gas stations; about equipment upgrade options for Gilbarco Passport and Encore 700, Verifone Ruby, Saphire and Topaz, and Wayne Ovation; and about what options are available for fuel marketers to finance these upgrades in the most tax efficient and cost effective manner.”
