iPhone credit card reader to be demoed at CES

Uhhh...Maybe I'm wrong but I could have sworn that the people at my Apple Store already use this, but maybe this means to small business not just the big boys.

Nice. That ought to make card # swiping waiters' sidejob easier. D'oh!

http://articles.moneycentral.msn.com/Banking/FinancialPrivacy/IsYourWaiterAThief.aspx

I prefer the jacket idea over the Square sugarcube.

Now if someone would release one with a card reader in the back for Chip 'n' PIN use I'd be sold.

Dimensions wise, I doubt it would be any bigger than a Morphie Juice Pack.

Swipe transactions are not rejected where Chip 'n' PIN has become the defacto authentication (UK & Europe) they're just not the primary peferred method. On conventional POSs the cashier has the option to accept a swipe transaction if the initial CnP attempt fails for some reason or can accept one in the (increasingly rare) event that a card does not have a chip.

Like Joe said, if the terminal does not accept ICC (chip) then you can swipe. Merchants pay less fees if they swipe the cards versus keying in the PAN so they are better off using devices like these rather than just keying in cards and having the cardholder "sign" on the screen (which is a joke and probably not accepted by the card associations as a valid form of CPS).

You do realize that if a POS terminal isn't CHIP ready it can be swiped? Lots of places still don't take advantage of CHIP technology

Oddly enough, there's an ad for Domino's Pizza at the top of this page on my iPhone. Image having their drivers able to swipe your card when they do the delivery, instead of having to do all of that over the phone. That would be a huge time saver for phone orders and would help to cut costs. There are a million applications for this, and it's exciting to see the potential become real.