Square has launched their new mobile card reader in the U.S., and their latest offering is compatible with both chip based credit cards and also magnetic stripe based cards.
The new Square card reader will be available for $29, which according to square will make it the cheapest chip enabled card reader available on the market.
The new chip enabled card reader from Square will work with both Android and iOS devices, and it ensures that transactions are encrypted.
In October of next year, retailers will have to switch over to the new chip based card system in the U.S., which is mandatory. The company is also launching a new chip card accessory for their existing customers who use the Square stand.
Square are not taking pre-orders on both of these new chip compatible devices, and the company says that they will start shipping in early 2015.
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