ROAM Data unveils the world’s first universal NFC and magnetic card reader

ROAM Data, a developer of mobile commerce platforms, has announced that it has created the world’s first universal card reader that combines NFC technology with magnetic strip recognition. The reader, called NFC Swipe, is compatible with any mobile device and is designed with mobile commerce in mind. The NFC Swipe will allow consumers to make purchases using a credit card or anything that is NFC-enabled. In fact, the platform can turn nearly any electronic device, including a PC, into a mobile payment system.

ROAM Data believes that the NFC Swipe will be the thing that pushes widespread acceptance of mobile commerce. The system includes sophisticated security technologies that ROAM claims will put the concerns of consumers to rest. The system is designed for merchants, enabling them to reach out to mobile consumers and attract their business. ROAM Data notes that the system is quite affordable, which could be good news for businesses interested in mobile commerce.

The NFC Swipe system may be the first universal card swipe system, but it is not the first of its kind. PayPal has a similar system in the works that is meant to facilitate mobile payments. PayPal’s system is only available for a single platform, however, making its market share very narrow. ROAM believes that it will be setting a high standard for companies to follow.

The NFC Swipe is scheduled for a mid-2012 commercial launch and expects to see great results by the holiday season.