The FlexPay encrypting PIN pads are payment card industry (PCI) approved and enable retailers to process triple data encryption standard (TDES) debit transactions at the pump.
Visa requires US retailers who accept debit to comply with PCI standards and have encrypting PIN pads installed at the pump by July 2010 to avoid costly penalties.
Retailers who have a large installed base of dispensers to retrofit for PCI compliance can add Gilbarco’s FlexPay encrypting PIN pads in the field.
Scott McDowell, Gilbarco’s marketing manager for North American payment products, said: Retailers who purchase new dispensers with the FlexPay encrypting PIN pads factory-installed save the most money and may qualify for additional tax benefits. First, they save about $400 per dispenser by avoiding the cost of retrofitting the devices in the field later. In addition, retailers who purchase and install new dispensers in 2008 may be able to take advantage of IRS Section 179 and Bonus Depreciation tax benefits. Gilbarco and leasing partner Patriot Capital have recently launched a program to help make this affordable by deferring payments until 2009.
