Wait. Isn't the data on the magnetic strip unencrypted anyway? Sure, your little card reader could encrypt the data, then send little ones and zeros through the

Wait. Isn't the data on the magnetic strip unencrypted anyway? Sure, your little card reader could encrypt the data, then send little ones and zeros through the headphone jack to be decrypted by your proprietary software, but the original data still isn't encrypted. It's just sitting there on the card in all of it's unencrypted glory. This is essentially security through obfuscation.