A look at Apple's iPod touch-based EasyPay system

@Rory - Most Target stores I have been in do have a chip reader on the credit/debit card processing pad (not the ones that "swallow" the entire card). Just a small slot above the display where the card can be slid in and back out.

This is the same case that was used for Incase Iphone external battery/hard case. Whoever had those cases for Incase made the these for Apple.

Anyone else see the irony in a removable battery and mini USB port for charging?

I too have been using various apps for processing payments on the iphone. Thus far I enjoy using Billing however a swipe feature may be welcomed:

Check them out: http://www.spartadata.com

Will this be made available for small businesses to purchase? I have been using a couple apps on my iPhone to process orders and run credit cards at my trade shows, but having something like this would make like much easier.

Chipped cards only don't go through when swiped IF that reader supports reading chips. Otherwise, imagine all the problems people would have when business use outdated readers or the readers that just store your information until later to process (like for delivered pizza or ordering drinks on an airplane).

The US does not do chip and pin yet. Actually I don't think I've seen a chip reader here since I left working for a financial institution that was testing it several years ago.

Yep, chip and pin is THE way... Stops credit card fraud stone dead IF the owner of the card doesn't let somebody watch over their shoulder and or write their number down in their wallet (DOH!)
Can't understand why the US hasn't adopted this European wide initiative. It has HUGELY cut cc fraud here.
And this little device doesn't support it! c'mon, magnetic stripe is luddite tech!

they didn't forget... you swipe it right off the side

This is actually kind of cool. Hopefully, they’ll also work a lot better than those crappy Winmo devices that always seemed to lock up or not work properly.