It seems Square have taken note of recent concerns over security issues with their product (a card reader which plugs into an iPad, iPhone or Android device). This summer will see the launch of a version of the device which beefs up security through data encryption. The new reader will also only work with Square's official app. The current version will work with any app, something which can be exploited to steal card data. Square currently charges 2.75% per transaction but it is unknown how they will absorb the extra costs arising from encryption.
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