U.S. card issuers aren’t getting the full benefit of the contactless phenomenon because of their slower contactless card rollout strategies.
Visa is delaying previously announced interchange and fee changes until April 2021, except for changes in the supermarket category, which will remain on the same schedule.
Visa’s the first card company to push back the October deadline for U.S. gas station EMV compliance, but that’s just one of a mounting set of challenges petroleum merchants are facing because of the coronavirus.
The coronavirus pandemic has added a troubling twist to the already difficult process of converting fuel pumps to accept EMV chip cards and communicate with the stations' point-of-sale terminals.