99Bill smartphone card reader pushes mobile payments for China, pretends it's never heard of Square

Jostling for attention among a crowd of China-focused smartphone card readers, 99Bill's card reader has now been officially revealed. It plugs into your headphone jack and communicates with apps on both iOS and Android. The familiar-looking reader supports both passcode and signature security -- China matches several European countries where passcode cards are the more common option. The company has already hooked up with three insurance companies, but it's keeping quiet on the rates it'll charge per transaction and any further expansion plans. 99Bills lays down why it should be your go-to choice for smartphone payments in mainland China right after the break.

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99Bill smartphone card reader pushes mobile payments for China, pretends it's never heard of Square originally appeared on Engadget on Wed, 09 May 2012 01:01:00 EDT. Please see our terms for use of feeds.