Square’s New Card Reader Supports EMV Credit Cards

Square

Traditional swipe-and-sign credit cards are slowly being phased out, and Square is adapting to the times with new support for EMV credit cards. Commonly known as chip-and-PIN cards in the UK and Ireland, these are compliant with the EMV (Europay, MasterCard, and Visa) global standard and are reputedly harder to hack or replicate. Available for pre-order later this year, Square’s new reader is described as “small enough to fit in a pocket” and will be compatible with iOS and Android devices. “Our EMV readers are the next step towards ensuring sellers make every sale,” Square CEO Jack Dorsey said in a statement. The mobile payment company’s decision to launch an EMV reader is no surprise given the strong incentive for retailers to move to more secure payment methods. After October 2015, US businesses that have yet to adopt EMV support will be held accountable for any fraudulent transactions that might occur.

Read the full story at The Verge.

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