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Thread: Square Starts Taking Preorders for its New iOS-Compatible Chip Card Readers

  1. #1
    What's Jailbreak? Akshay Masand's Avatar
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    Default Square Starts Taking Preorders for its New iOS-Compatible Chip Card Readers


    The popular transaction provider, Square, has been hard at work, preparing to help retailers make the switch to card readers that can read the new cards with secure EMV chips, a move which the US credit card industry has been inching towards. Square has recently begun accepting preorders for its new chip card-compatible readers. The new Square Reader for chip cards costs $29, unlike the regular iPhone-compatible Square swipe accessory which the company had made available for free.

    The new reader includes a slot that merchants can “dip” an EMV-compatible card, where they would presumably leave it in place for the entire sale. This method replaces the traditional method of just swiping a card, although it should be noted that the new Square Reader also includes a magnetic strip reader for legacy support as well.

    Square is also taking preorders for a new “Chip Card Accessory for the Square Stand, which is a $39 accessory that connects to the iPad stand with an included USB hardware hub. This top-loading slot allows merchants to insert a credit card and securely initiate a transaction. Furthermore, the EMV card reader pairs with the iPad in the stand and its accompanying legacy magnetic stripe reader. Those interested in purchasing the standalone Square Stand can do so for $99.

    Both the Square Reader for chip cards and the Square Stand Chip Card Accessory are now available for preorder. Spring of 2015 is the scheduled shipping time, which is well ahead of the October 2015 EMV mandate adopted by the US payment networks. This should allow everyone to get well acquainted with the technology before it is required.

    Will any of you be getting the chip card readers from Square?

    Source: Square (blog)

    Twitter: @AkshayMasand

  2. #2
    Livin the iPhone Life Carvensno's Avatar
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    Correct me if I'm wrong, but aren't these the same chips that can be read from someone with a reader and scan/steal your info?

    How can the government or who ever make companies adopt something that is so easily hackable? lol smh!

  3. #3
    These chip n' pin cards generate unique transaction "tokens" that can only be used once. So if they "scan/steal" your your info it will be useless since it can only be used once. So for instance if they scan your card they get one unique "token" and that "token" is then useless since it is generated when it was stolen. These cards are actually very secure but not flawless.

    Quote Originally Posted by Carvensno View Post
    Correct me if I'm wrong, but aren't these the same chips that can be read from someone with a reader and scan/steal your info?

    How can the government or who ever make companies adopt something that is so easily hackable? lol smh!

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    Carvensno (2014-11-13)

  5. #4
    Quote Originally Posted by logodude View Post
    These chip n' pin cards generate unique transaction "tokens" that can only be used once. So if they "scan/steal" your your info it will be useless since it can only be used once. So for instance if they scan your card they get one unique "token" and that "token" is then useless since it is generated when it was stolen. These cards are actually very secure but not flawless.
    Sounds like you are confusing with Apple Pay.

    Hackers can pretty much pull the entire card info from a chip. It's not as else secure as we are led to believe. Go google it watch some videos on YouTube regarding EMV security.

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