Besides this tech is already outdated, Almost all swiping these days requires two way authentication. i.e. chip & pin. Even if the customer is the type of person to let some random swipe your card on a programmable device, they couldn’t in their right mind enter their pin on it?

Integrating aging technology with new processes rarely works. It’s new tech allowing for updated processes that creates innovation. Sadly new tech in large established industry (banking) is always glacially slow.

If anything, these smaller card reader attached to a normal cellphone sounds like a boon to skimmers. Normally they are caught because they have to carry a purpose built skimmer, now they can just use their phones.

http://en.wikipedia.org/wiki/Credit_card_fraud#Skimming

and yes, I should be working but it’s past 4pm already…