The annual NACS (National Association of Convenience Stores) Show, being held October 18-21, 2016, in Atlanta, could be the biggest yet. Consider the numbers: 23,000-plus attendees from dozens of countries, 62 educational sessions led by some of the most respected experts in the convenience and fuel retailing industry, and 1,200-plus exhibitors showing off new products and services on an expo floor of more than 410,000 square feet.
During this year’s NACS show, SageNet will be exhibiting at booth 3748, and we’re proud to announce that our own Paul Truitt has been selected as a speaker. Mr. Truitt, who is Vice President of Cybersecurity and Chief Information Security Officer at SageNet, will join a panel of experts to discuss “Technical Tools for Data Protection.”
This educational session will dig deep into the importance of managed firewalls, compliance tools, penetration testing, scanning and strategies for protecting larger networks. Attendees should expect to gain insights into market trends related to data protection tools, the impact of ransomware, and how to prevent data breaches and recover compromised data.
There are a number of other technology and security-related sessions on the NACS agenda, including several related to the transition to Europay, MasterCard and Visa (EMV) credit and debit cards. Unlike traditional, magnetic stripe cards that are susceptible to compromise and fraud, EMV cards use microchips and require far more complex processing and authentication to complete a transaction. The shift to EMV cards is intended to protect cardholder data and reduce the risk of fraud by using more secure technology and protocols, and shifting liability for payment card data breaches to merchants who don’t upgrade their point-of-sale systems to accept EMV cards.
Since October 1, 2015, merchants who fail to use EMV technology to process in-store purchases would be liable for any fraudulent charges that may occur as a result. On October 1, 2017, the same rules will apply to automated fueling dispenser transactions. In other words, if your point-of-sale and pump card readers aren’t up to speed, and a customer’s payment card data is compromised, your company will likely be liable.
One of the major obstacles to EMV technology implementation has been the cost, especially for smaller organizations. According the House Small Business Committee, the average transition cost is $26,000 per store, which represents more than half of the average store profit of $47,000 per year. But the costs of EMV don’t end when technology is replaced. Equipment must be programmed, tested and certified. Admins and employees must be trained before EMV transactions are accepted. Technology must be maintained and upgraded. Maintenance and upgrade costs alone are expected to surpass $2,200 per year for each store.
We encourage those in the convenience and fuel retailing industry to learn about data protection tools, overcoming the obstacles to EMV implementation, and other important issues at the upcoming NACS Show. Visit the SageNet booth, and visit our blog often for the latest insights, event news and industry trends.