Square on Wednesday began offering a $29 chip card reader for those who want to get ahead of an industry-mandated switch in October 2015
The Square Reader for chip cards, which plugs into your iPhone or Android's headphone port, is available for preorder at squareup.com/shop/reader. The device reads both chip-based credit cards and traditional ones with magnetic strips
Square's new chip card reader
Image: Square
The latter will be phased out over the coming year as liability will shift from the card issuers to whomever has the "lesser technology." Retailers who don't offer readers for chip-based cards (called EMV solutions for "Europay, MasterCard and Visa" — the three companies behind the initiative) will be liable for fraudulent charges on chip-based cards if the retailers don't offer EMV readers. If a bank lags behind a retailer though, then the bank is liable Read more...
More about Credit Cards, Square, Business, and EmvSquare offers chip card reader for $29
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