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TNS To Preview Data That Suggests EMV Pump Upgrade May Reinvigorate C-Store Sales

ATLANTA -- The convenience store industry should see the October 2020 deadline for the EMV upgrade of pay-at-the-pump terminals as a significant revenue opportunity, according to the results of a recent Transaction Network Services (TNS) survey. This survey, which examined consumer opinions on the adoption of secure commerce at the pump, will be previewed to NACS Show 2019 attendees and media at TNS' sponsored happy hour event at Stats Brewpub at 3 p.m. on Oct. 1. The NACS show, the c-store industry's p...

September 30, 2019 by Emily Jed

ATLANTA -- The convenience store industry should see the October 2020 deadline for the EMV upgrade of pay-at-the-pump terminals as a significant revenue opportunity, according to the results of a recent Transaction Network Services (TNS) survey. This survey, which examined consumer opinions on the adoption of secure commerce at the pump, will be previewed to NACS Show 2019 attendees and media at TNS' sponsored happy hour event at Stats Brewpub at 3 p.m. on Oct. 1. The NACS show, the c-store industry's premier event, takes place Oct. 1-4 at Atlanta, GA's Georgia World Congress Center.

Despite the high expected investment in new pump technology, the TNS survey data suggests that this upgrade, combined with new services available at the pump, could boost overall store sales.

The full report will not be publicly available until the end of October.

Dan Lyman, TNS' Head of FinTech Payments for North America and Brian DuCharme, vice-president of product management will present the findings. The study uncovered surprising data including:

• The percentage of consumers that are willing to watch advertisements for a variety of different items

• The percentage of consumers who would be motivated to purchase items if offered a discount (in exchange for viewing content at the pump)

• Which consumers are more inclined to order and pay for items like prepared foods via secure payment at the pump

• The percentage of consumers who would like to have the option to purchase in-store items by paying for them in advance at the pump

• Plus, information on additional pump spending levels

"We found the survey results extremely exciting and will help convenience stores with gas station forecourts make informed decisions about upgrading their terminals," said Lyman. "Industry estimates of the EMV upgrade are as high as $4 billion, however selecting the right technology can offset this cost and potentially increase the stores' revenue."

"Armed with this consumer insight, convenience store owners can make more informed decisions as they face the October 2020 deadline," added DuCharme. "We look forward to sharing our findings with NACS delegates at the happy hour event at Stats Brewpub in Atlanta."