Square is introducing a new card reader following its recent investment by Visa. This new reader should help Square squash any problems that Visa might have had at one time with Square’s readers. The new readers shouldn’t make existing card reader holders switch out of their current builds, but it’s in order “…to help increase trust in innovative payment solutions,” and it seems like a good idea for both companies.
All in all, Keith Rabois would say:
As the electronic payment industry continues to evolve, Square will innovate and work with partners to ensure new types of merchants can accept payment cards to grow their businesses – in the simplest, quickest, most secure way possible.
Whether or not the new readers will completely replace the ones that recently went on sale is still up in the air, but we expect it to happen as a security and business caution for both Square and Visa. More news is expected in the coming months, so stay tuned.
Article Via TechCrunch