Three Reasons 2018 is the Perfect Time to Upgrade to EMV ‘Chip Card’ Readers

Three Reasons 2018 is the Perfect Time to Upgrade to EMV ‘Chip Card’ Readers

Make your EMV Upgrade Work for You

You’ve heard all the warnings. You’ve read all the dangers if you delay. But upgrading your forecourt with EMV ‘chip card readers isn’t just about playing defense.  There are ways to use the upgrade for some offense too.

Here are some real, time-sensitive benefits to upgrading to EMV in 2018:

The Federal Reserve just raised interest rates a quarter of a percent to a range of 1.5% to 1.75% and there is new speculation the Fed will have to continue raising them faster than previously planned. 

(CNN Money): “[Federal Reserve Chairman Jerome Powell] has already expressed confidence early into his four-year term that the next few years will be "good years for the economy" and that many of the challenges facing the economy have faded into the background…Powell's bright economic outlook last month helped to raise investor expectations that faster interest rate hikes may be on the way.

Making your EMV investment while rates are low could save you considerably when you consider the potential scenario two years from now. Besides interest rates, you can take advantage of instant tax benefits like Accelerated Depreciation. 2017 also saw an increase in Section 179 deduction limits.

Installation and labor are other factors that make EMV work for you in 2018. Demands on manufacturers and service contractors rise as we approach the 2020 deadline. Upgrading now can help you avoid installation inflation. The demand boost could also cause extended wait times on your upgrade.

What else makes Gilbarco’s approach to EMV different from the rest of the market? It starts with understanding your business and it ends with our flexible, long-lasting technology solutions:

The upgrade can also be used as an opportunity to give your site a refreshed look and set yourself apart from the UNSECURE guy across the street. Customers want to know they’re safe when they do business with you. That expectation will only increase as EMV becomes the standard. Upgrading lets your customers know you are ahead of the curve and care about their livelihoods after they leave your site.

By the way, did you know Gilbarco Veeder-Root made history by processing the first EMV ‘chip’ transaction at a fuel dispenser in the U.S.? Read more here!