Square has announced Square Reader for chip cards, a new credit card reader built to handle EMV chip cards—credit cards equipped with microchips, as already found in many countries around the world. The major U.S.
credit card companies have planned to implement a fraud liability shift in October 2015, which will transfer liability for some fraudulent transactions away from merchants using EMV reader technology, and Square is looking to stay ahead of the curve. It appears as if the new Square reader will increase in size from the current model.
The new reader will work with both chip and magnetic stripe cards, and use a Micro-USB port for charging. No release date or price information has been announced as of yet.
