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This is very big for Square. The main issue with their flagship product is security. When every other country in the world is moving fast to accept chip card
by wmboy 15y ago
This is very big for Square.
The main issue with their flagship product is security. When every other country in the world is moving fast to accept chip card transactions a United States company comes out with a so called "innovative" product which reads the magstripe only.
Visa have been heavily pushing chip card technology so for them to push this product shows they are willing to allow Square some slack in the security requirements.
- tesseract 15y agoThe reason Visa (and the other card networks) have been heavily pushing smartcards/RFID/etc. is that it is an excuse for them to move liability for fraud from the banks/merchants to consumers. So as a consumer who has some doubts about the security of the chip technology, I'd have to say that I welcome any slowing of the transition.