Morphie, one of the more popular iPhone/iPod accessory makers out there today, is set to launch its own iPhone-only credit card reader (with third-party App) at this month’s Consumer Electronics Show in Las Vegas. The move is seen as Morphie’s attempt to compete with Twitter co-founder Jack Dorsey’s Square in the mobile payment systems scene.

Morphie’s aptly named “Credit Card Reader” will let iPhone users accept payments via credit card simply by swiping the plastic through a special casing, which will be attached to their iPhone. There isn’t much more detail on the device as of yet, but we think its success will largely depend on its size (the bulk factor) and the price.

On the other hand, Square was the first company to jump into the mobile payment systems scene with its own device, which plugs into the iPhone via its audio jack. For now, rumors are swirling that Morphie’s own offering will sport an iPhone-only shell and cost a bit more than Square’s credit card reader.

Via: ITProPortal