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What is the circuit diagram of a mobile credit card reader like Square?

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Is it possible to figure out how a mobile credit card reader, like Square, works?

Is it the same as the more popular Veriphone terminals that abound?

The problem is, that I am buying a Square like device from a supplier in China, and I want him to supply me a trustworthy device. I don't know how that will happen, without me knowing exactly what data he is transmitting from the app itself, as well as from the hardware of the device.

hence:

Circuit diagram for credit card readers please?
 

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