Mobile credit card payment device shipments delayed

Shipments of a mobile credit card payment device have been delayed.

Details of the payment device that allows users to collect other people's credit card dollars on their mobile phones have been released before being "fully baked", according to the company's chief executive.

Jack Dorsey announced that Square has delayed shipments of its product while it ensures there are no fraud issues with it.

He added: "We realise the amount of time we've taken to ship our Square readers has been frustrating, sometimes confusing and has generated a number of questions."

The gadget works by taking money from someone's Aussie credit card when it is plugged in to an Apple iPhone audio jack.

Mr Dorsey noted that the company has been handling fraud via the transaction limits, although he admitted these could be too low.

This news comes after reports of credit cards being skimmed in the Forster area were made earlier this month, according to the New South Wales police.

By Mark Hornby