Square releasing encrypted card readers this summer to address security concerns

• 30/04/2011

Square mobile security encrypted card readers

We heard about Visa having some investment in Square a couple days ago, and now that seems to have been a great move both for Square and for Visa as they try to improve security within the mobile payments realm.

Square Security Lead Sam Quigley mentioned that they will be releasing an encrypted card reader by this summer which will be paired exclusively with its Square mobile application for decryption. These new card readers will remain Free from Square when you start up an account, and puts the concerns of many regarding security in mobile payments to rest, at least for a little while anyway.

Will Mastercard or American Express jump on board? Hard to say, but we know the first to the race usually wins the race in the technology realm.

[Via – Engadget | Visa Global Security Summit]

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