Byline: Kevin Woodward
VeriFone Holdings Inc. Monday said it has purchased Orange Logic Ltd., a South Korea-based point-of-sale terminal maker.
South Korea is in the midst of a conversion to the EMV smart card standard, something that San Jose, Calif.-based VeriFone hopes to capitalize on. VeriFone would not disclose terms of the deal.
Though there are more than 2.5 million POS terminals in South Korea, only between 10% and 15% of them are EMV capable, VeriFone says.
"The Korean government launched a national mandate to complete full EMV migration by the end of 2008," Zvi Mitlanski, VeriFone Asia vice president and general manager, tells …
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