Square has unveiled plans to release a new Square Reader – a smartphone and tablet dongle that allows businesses to easily accept credit card payments – that supports chip-and-PIN cards in the US.
The refreshed Square Reader will be compatible with EMV, a standard developed by Europay, MasterCard and Visa, ahead of its introduction in the US later this year. Square says its refreshed hardware will be available for pre-order in the coming months, but refrained from giving a price or firm release date.
As Square notes, the US is “late to the party” when it comes to adopting chip payment cards. The technology offers greater protection than magnetic-stripe credit cards, so both consumers and businesses should benefit from the switch.
Square is currently available in the United States, Canada and Japan.