Visa and Mastercard extend deadline by three years for chip cards at fuel pumps

Visa and Mastercard separately announced Thursday they will delay by three years -- to Oct. 1, 2020 -- the mandated date for implementing chip card payments at millions of automated fuel pumps in the U.S.

The move comes after years of concerns by merchants about the implementation of chip cards at payment terminals at millions of U.S. store locations.

Technology challenges are even more complex for using chip cards at the nation's outdoor fuel pumps when compared to indoor payment terminals in stores. That's partly due to the wide array of weather conditions at outdoor pumps and the network configurations required to connect the pumps to banks that certify the payments. Regulatory challenges were also cited as a factor, including the need for a sufficient supply of chip-compliant software and hardware to make the transition.

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