Dover Fueling Solutions Introduces Petro Vend 300E EMV-Compliant Island Payment Terminal

Rhea-AI Summary

On April 13, 2021, Dover Fueling Solutions (DFS) announced the launch of the OPW Petro Vend 300E (PV300E), the first EMV-compliant payment terminal for U.S. fleets. This terminal enhances security by shifting liability for payment fraud to fuel retailers, effective April 16, 2021. The PV300E supports EMV chip and magstripe cards, and includes contactless payment options like Tap-n-Pay and digital wallets. DFS aims to streamline operations for customers while mitigating chargeback risks, improving overall efficiency and security.

Positive

• Launch of PV300E enhances payment security and reduces fraud risk for retailers.
• PV300E offers contactless payment options, increasing convenience for users.
• Dover shows commitment to supporting the industry transition to EMV compliance.

Negative

• None.

DOWNERS GROVE, Ill., April 13, 2021 /PRNewswire/ -- Dover Fueling Solutions ("DFS"), a part of Dover (NYSE: DOV) and a leading global provider of advanced customer-focused technologies, services and solutions in the fuel and convenience retail industries, today announced the launch of OPW Fuel Management Systems' Petro Vend^® 300E (PV300E) fuel island terminal, the industry's first EMV^®-compliant island payment terminal for fleets in the U.S. that delivers secure, accurate and reliable fuel tracking for 24-hour unattended fueling operations.

On April 16, 2021, the liability for payment fraud at the pump will shift to fuel retailers. An important strategy to help protect businesses from these expensive chargebacks will be to convert all magstripe systems to the EMV standard. The PV300E offers secure EMV processing direct from the terminal and is built to handle today's EMV chip cards, as well as older magstripe cards. For maximum payment flexibility, the PV300E also includes Tap-n-Pay options for contactless cards and ApplePay / Google Wallet transactions.

"We are excited to introduce the industry's first EMV-compliant payment terminal for fueling operations of any size in the U.S. market," said Michael Boyd, Director of Product Management – Fleet Solutions, Dover Fueling Solutions. "The PV300E terminal and related EMV solutions from our Petro Vend family of fuel control solutions will not only protect our customer's fuel assets but create operational efficiencies by helping eliminate the risk exposure or potential liability for chargebacks, streamlining their business and improving the bottom line. With the PV300E, owners and operators will have increased security, convenience and peace of mind."

With the addition of the PV300E to its robust portfolio of EMV-ready offerings, Dover Fueling Solutions remains committed to supporting its customers and partners in the industry-wide transition to EMV. 

For more information, please visit www.doverfuelingsolutions.com/fleetproducts.

About Dover Fueling Solutions:

Dover Fueling Solutions ("DFS"), part of Dover Corporation, comprises the product brands of ClearView, Fairbanks, OPW Fuel Management Systems, ProGauge, Tokheim, and Wayne Fueling Systems, and delivers advanced fuel dispensing equipment, electronic systems and payment, automatic tank gauging and wetstock management solutions to customers worldwide. Headquartered in Austin, Texas, DFS has a significant manufacturing presence around the world, including facilities in Brazil, China, India, Italy, Poland, United Kingdom and the United States. For more information about DFS, visit www.doverfuelingsolutions.com.

About Dover:

Dover is a diversified global manufacturer and solutions provider with annual revenue of approximately $7 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Fueling Solutions, Imaging & Identification, Pumps & Process Solutions and Refrigeration & Food Equipment. Dover combines global scale, operational agility, world-class engineering capability and customer intimacy to lead the markets we serve. Recognized for our entrepreneurial approach for over 60 years, our team of approximately 24,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under "DOV." Additional information is available at dovercorporation.com.

Dover Fueling Solutions Contact:
Jocelyn Sexton
(737) 529-6345
jocelyn.sexton@doverfs.com

Dover Media Contact:
Adrian Sakowicz, VP, Communications    
(630) 743-5039    
asakowicz@dovercorp.com     

Dover Investor Contact:
Andrey Galiuk, VP, Corporate Development and Investor Relations   
(630) 743-5131   
agaliuk@dovercorp.com

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SOURCE Dover

FAQ

What is the PV300E terminal introduced by Dover Fueling Solutions?

The PV300E terminal is an EMV-compliant island payment terminal designed for U.S. fleets, enhancing security and streamlining fuel tracking.

When does the liability for payment fraud shift to fuel retailers?

The liability for payment fraud at the pump will shift to fuel retailers on April 16, 2021.

What payment methods does the PV300E support?

The PV300E supports EMV chip cards, magstripe cards, contactless payments, and digital wallet transactions like ApplePay and Google Wallet.

How does the PV300E improve operational efficiency for retailers?

The PV300E helps eliminate chargeback risks and streamlines fueling operations, thereby improving overall business efficiency.

What are the expected benefits of using the PV300E terminal?

The expected benefits include increased security, reduced fraud liability, and improved convenience for fueling operations.