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SquareUp.com offers a free hardware device to those that register for their service. This device reads magnetic card stripes and sends audio though the headphone/mic jack to the application.
Has anyone been able to figure out how to access and decode the audio from this device in their own apps?
Since there have been no real answers, I’m going to assume nobody has figured this out and the answer, for now at least, is that it cannot be done.