Square announces new EMV chip reader for more secure mobile credit and debit card payments
Today, Square announced a new version of its popular mobile payment system that will support EMV chipped credit cards. EMV is a joint effort from MasterCard and Visa to help improve security credit and debit card transactions and is set to become a standard in the US by October 2015. In addition to EMV-equipped credit cards, the new version of Square’s payment system will still feature support for legacy magnetic strips, so customers will still have the option to swipe and sign.