US mobile payments firm Square has launched a new version of its popular card reader that is thinner than the original and will, the firm claims, have even greater accuracy at reading credit cards.

The new design is now 45 per cent thinner, which means it matches the thickness of the iPhone 5 or 5S. In addition, Square has replaced some components in the new version that it said will give a higher success rate when cards are swiped through it.

Finally, the card reader’s audio jack has been redesigned so that it works with a greater array of devices. The remodelled reader is now available on Square’s website (itself redesigned) and will be in retail stores early in 2014.