PURCHASE, N.Y.—Mastercard has announced a series of consumer protections aimed at protecting customers and merchants from fraud at fuel stations.
The company said fraud was up 17% at gas pumps through the end of 2019.
The enhanced consumer protection program was designed to provide merchants and banks with tools to help them navigate the heightened risk of fraud, Pymnts.com said.
Financial institutions that issue Mastercard will receive data on high-risk transactions to enable them to tailor their authorization decisions accordingly and prevent fraud before it occurs, Pymnts.com said.
“Many fuel companies have made the shift to a safer and more secure EMV environment, and we applaud them for doing so,” said Kush Saxena, Mastercard’s executive vice president, in a statement. “However, we also recognize and respect the complexities to upgrade to safer and more secure EMV transactions at fuel dispensers over the next few months.”
The company was not specific about the measures, Pymnts.com said.