Potential market adoption aside, the technology looks pretty interesting. The little scanner in the video is plugged into the headphone port of an iPod Touch. I

Potential market adoption aside, the technology looks pretty interesting. The little scanner in the video is plugged into the headphone port of an iPod Touch. I'm assuming that this port also accepts microphone input (like the iPhone port) and that the scanner device just transforms the magnetic strip data into sonic frequencies the software understands to be able to "read" the credit card into the app? Neat.