Morphie, the popular iPhone and iPod accessory and battery add-on maker, is all set to unveil its iPhone credit card reader and third-party app at the Consumer Electronic Show to be held in Las Vegas this month. This is the accessory maker's first attempt to enter the lucrative mobile payment systems market.
The company will debut the accessory, named "Credit Card Reader" along with a complimentary third party processing application that will allow iPhone users to accept credit payments by swiping their credit cards through a special casing attached to their mobile phone.
However, while the details of the new mobile payment system by Morphie are still unknown, tech experts believe that the success of this device will depend on the design and bulk of the iPhone add-on along with the price at which it will be offered.
The device, which will turn any iPhone into a credit card reader, will be a direct competitor to Square, which is developed by Twitter co-founder Jack Dorsey.
Square incidentally was the first mobile payment device for iPhone and Android phones that offers card swiping facility and it apparently plugs into the iPhone via the audio jack.
Interestingly, the credit card reader from Morphie will come as an iPhone only shell casing similar to Morphie’s Juice Pack Air battery pack for iPhone and is said to be costlier than the Square offering according to some sources.