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Are third party credit card readers compatible with Square?

The title of this thread has been edited from the original: 3rd Party Credit Card Reader

Hi, I am thinking about switching my current POS to square and I was wondering if my Ingenico iPP350 would work with Square POS and payment processing? 

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There are quite a few readers, all being affordable, that Square has to offer. I believe you can only use Square "readers" with their POS system. 

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