Square Reader for Magstripe Cards End of Life FAQ
Why are we discontinuing this product?
In recent years, payment technology, customer preferences and industry regulation in Canada has been moving away from magstripe and toward safer, more secure chip and PIN and contactless transactions. Adapting to chip and PIN devices will allow Square to continue to provide you and your customers with safer payment options and improved protection from fraud.
Can I keep using my Square Reader for Magstripe Cards after October 13, 2022?
Yes. Square Readers for magstripe cards that were purchased before October 13, 2022 will still be able to take payments without disruption, however, as of October 1, 2023, additional fees may apply to transactions processed on them. Square will provide at minimum 90 days notice of changes in applicable fees for magstripe payments.
Can I still use magstripe functionality on other Square hardware?
Yes. Square’s chip-enabled products with built-in magstripe readers (Square Register and Square Terminal) will still be able to take payments (including swipe payments) without the possible additional fees related to magstripe payments mentioned above.
Which alternative products can I use instead of Square Reader for magstripe cards?
For sellers looking to accept on-the-go in-person payments, Square Reader for Contactless and Chip lets you safely accept any type of payment method (including INTERAC debit), while retaining the same mobility and ease of use as Square Reader for magstripe cards.
Canadian sellers looking to process remote payments without using reader hardware should consider free-to-get-started options like manually keying customers card information in the Square app on their device or alternative solutions like Virtual Terminal and Invoices.
Note: Pricing may vary for card-not-present solutions. Please make sure to refer to Pricing page to learn more.
What about warranty coverage?
Square Reader for magstripe cards is covered by a six-month limited warranty that will cover all units sold prior to October 13, 2022 for a period of six months from the shipping date.
How can I safely dispose of my Square Reader?
To dispose of your Square Reader for any reason, you can drop it off at your local Best Buy, Staples or e-waste recycling centre.
What to do if I recently purchased the Square Magstripe Reader?
Rest assured, magstripe readers ordered prior to October 13, 2022 can continue to be used without disruption. Although additional per-transaction fees may apply beginning October 1, 2023, Square will provide at minimum 90 days notice of changes in applicable fees for magstripe payments.