RoamData's CEO touted his device's security features and called on regulators to tighten standards. Meanwhile, other competitors spoke up, like MagTek's CEO, who claimed neither Square nor VeriFone's readers are secure because they lack authentication mechanisms. Notably, Square announced plans to add encryption to the reader a month after VeriFone's attack. Some responded that this still entails hassles for the consumer. Square's CEO didn't dispute the claim outright, but he called it unfair, saying it overlooked 'protections already built into your credit card.' He also claimed anyone can easily steal card data and that card companies don't hold consumers responsible for fraudulent charges.

VeriFone's CEO claimed that the Square reader didn't encrypt card information immediately, making it easy for hackers to develop an application that would store the unencrypted card information. For instance, in March 2011, VeriFone publicly attacked Square for a security flaw. But the best option for you might depend on how many transactions you process and how large they are.Р вЂќР’Вespite such precautions, some say your card information is still at risk, and that mobile credit card readers open opportunities for hackers and criminals. Other services may also charge monthly fees. (In 2011, the company dropped its additional 15-cents-per-transaction fee.) Note that the cost is higher when you enter the numbers manually instead of swipe the card. Square, for instance, charges 2.75 percent of each transaction as of this writing. Payment plans vary among the different services. But swipers make for more efficient transactions. These and many other apps allow merchants to plug in the information manually. Of course, you don't need an attachable swiper to accept credit card payments. As you process the transaction, the apps will give you the option of sending a receipt to the customer via e-mail. These popular readers are compatible with a variety of mobile devices as well as tablets, but check compatibility before you commit to one. Other popular readers are the RoamData RoamPay, known for its versatile compatibility, and the MagTek iDynamo, known for its security. VeriFone especially prides itself on its service's security features. This comes with a stylus for customers to sign the touch screen (as opposed to other devices that require customers to sign with their finger). VeriFone, which is a company that was already well-established in credit card processing with stationary terminals, has also come out swinging in the mobile game with the PAYware Mobile Reader.

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