Square credit card reader will support EMV chipped cards

The little card reader that launched a mobile payments revolution — Square — today unveiled a new version of their card reader that is designed to work with the EMV chipped credit cards. EMV credit cards are a mainstay around the world and just starting to make headway in the United States (including a fraud liability deadline for businessses coming up in October 2015), and the new version of Square supports EMV in addition to the old-school magnetic swipe strip.

Square EMV maintains the same rounded-square design as previous iterations of the card reader, with a wide pass-through slot for magnetic swiping and a narrower slot for chipped cards. Just push the card in (chip-end-down, obviously) and there's said to be enough friction there to hold it in place while you complete the transaction on the attached Android smartphone or tablet.

There's not a release date or price yet for the new EMV-equipped Square card reader, but the company will be taking pre-orders for it later this year. It's been a while since attention's been paid to the Square reader — the company has been focusing on services like in-store pickup and online orders over the past several months.

What do you think about Square adding EMV support to their credit card reader?

Source: Square

 

Reader comments

Square getting an EMV chip update for more secure mobile credit card payments

5 Comments

I think its good of them to get ahead of the curve. I dont think they are going to be cheap to manufacture so that makes me wonder about their give it away style of doing business. I'll definitely be picking one up if its free/low cost

(added later)
"Mobile card readers from companies like Square Inc. and PayPal cost users $9.99 and $14.99, respectively, but typically they are rebated these amounts. PayPal has an EMV-compliant mobile card reader that only is available in the United Kingdom and Australia, and sells for 99 pounds ($164.53) in the U.K."

Lets hope that the price has come down. This is from http://digitaltransactions.net/news/story/4559 which ran in March 2014

Well, it's not really that square is ahead of the curve but that the US is quite far behind it.

Current pricing on the PayPal reader is £69.99, which is quite high but you only really need one if you have a small business and for that it's probably worth the cost.

Posted via Android Central App

yeah we are way behind. I was using ahead of the curve in the narrow minded (limited to the US) way. They are the first I've seen in the US to say they will be releasing one soon.

I had wondered/worried how this would impact them. Glad to see they were able to come up with an easy solution.

I've always found it odd how blasé Americans act in regards to credit card security. Glad to see you're starting to take it a little more seriously!

Posted via Android Central App