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Both South Korea and China should experience significant growth in deployments of payment terminals that read EMV chip cards over the next few years, a spokesperson for terminal vendor VeriFone Holdings Inc. tells CardLine Global sister publication Cards&Payments. "Korea is the second largest terminal market after the U.S.," the spokesperson says. "Currently, only 10% of terminals are EMV, so there will be big growth in EMV terminals." In China, "all terminal shipments in the last couple of years were EMV," says the spokesperson, noting VeriFone expects shipments of EMV terminals to grow as card acceptance grows in China. With the exception of the United States, most major countries globally have moved, or are moving to, EMV chip cards to reduce fraud. VeriFone is based the United States.
