As gasoline prices continue to fall, many analysts hope that diesel will follow suit. Unfortunately, multiple factors continue to contribute to the high costs the trucking, transportation and education industries continue to encounter.
Visa is supporting eligible small business owners in the fuel industry by enabling Visa Transaction Advisor (VTA) for no additional charge to help combat fraud at gas pumps. VTA offers real-time risk assessment when consumers pay for fuel at the pump, helping deter fraudulent payment attempts as fuel merchants work toward implementing EMV® technology, proven to reduce fraud. As fuel merchants upgraded their pumps to support EMV payments last year, counterfeit fraud rates declined simultaneously. From January 1 through September 30, 2020, counterfeit fraud rates declined by 22% and counterfeit fraud dollars declined by 32%. At the end of February 2021, approximately 51% of transactions on U.S. fuel pumps were EMV (VisaNet).
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