The fruits of Visa's investment into Square, the mobile payment company, are already being seen as the two have announced a new version of the Square dongle that adds encryption and beefs up security.
Square has taken flack in the past from Verifone, another credit card processing company, that claims Square's system is insecure and essentially a credit-card skimmer. Square has denied these allegations, but this hasn't stopped the company from introducing a new version of the Square reader that employs encryption. The new encrypted reader will only work with Square's application and will encrypt all the data that is transmitted back and forth.
The reader will still be free for Square users, who pay transaction fees when they use it. It is not known yet whether Square will replace all of the unencrypted readers that are currently in the field
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