Square is working on a chip-friendly credit card reader

Square is set to bring its payment card reader for mobile devices in line with modern tech used most places in the world outside of the U.S. – today it revealed its upcoming EMV and chip-compatible dongle, which will be available soon for pre-order with an estimated ship date of sometime in 2015. The new reader looks very similar to the existing one, but it’s designed to read microchips embedded in new EMV-capable cards, which act as more advanced versions of the magnetic stripe which currently occupies the back of most U.S.-based credit/debit cards.