SOUNDPAYMENTS | Industry Challenges
Sound Payments is a multi-channel, diversified technology company with innovators and experts in the Payments, Healthcare, Petroleum and Financial Services Industries. Our company supports business growth worldwide by providing cutting-edge, simplified software and hardware solutions in multiple industries.
Payments, semi-integration, semi-integrated payments, payment solutions, ISV, ISO, Resellers, cloud services, healthcare technology, practice management system, practice management companies, PCI, POS, healthcare, petro, petroleum, software, hardware, financial services, semi-integrated, payment solution, ISV, EMV, merchant, retail, retailer, ECR, electronic cash registers, solutions
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Industry Challenges

Quantum Cloud Based EMV Compliant Petro Solutions

The Petroleum industry has a mandate to move to EMV by 2020. Due to the infrastructure constraints, this can be a costly endeavor for Petroleum Stations (can be between $60k-$200k or more for a smaller location). In the petroleum industry, the lack of cost-effective, simple solutions that allow for innovative consumer services while handling EMV puts many small to medium-sized companies at a disadvantage.

 

Endorsed by PAX Technologies, Sound Payments Petro Solutions has an answer to enable EMV without full construction. Our unique approach to this market allows it to provide a cost-effective multi-point, cloud-based solution that delivers EMV without the many hassles of traditional installation. Some of the hardships companies face include:

  • Competition in the market and high costs of equipment and technology solutions that help differentiate
  • Bringing equipment and tanks up to the latest environmental industry requirements
  • Complexity of integrating new technologies (wallet apps, loyalty programs, etc.)
  • Challenges in accepting newer payment methods
  • Difficult to connect multiple end points
  • Difficult deployment, installation and potential for disruption to daily operations
  • Ability to leverage processing options is difficult
  • Payments, fully-integrated, are in PCI scope
  • Industry certifications for Fuel EMV still take 9+ months to complete through the integrated system
  • EMV certification impacted by any payment changes or register changes
  • Vendor readiness for EMV Certifications and impact of their solution
  • Liability shift moved to 2020, but leaving AFD (Automated Fuel Dispenser) a target for fraud
Read Digital Transactions article: Where EMV Spells Headache