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Is there a chip reader for my iPhone 5 like the one for magnetic strip reader?
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We currently offer 2 different chip card readers, the magstripe + chip card reader (I think this what you are looking for) and our contactless + chip card reader.
Both readers will have your business covered for the new EMV liability shift.
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You can also view device compatibility with various Square Readers at https://squareup.com/compatibility.
This is a direct link for your device: iPhone 5 compatibility.
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I have a otter box commuter cover on my iphone 6s+ as my phone was very expensive I do not want to take the cover off and sometimes it is difficult for the square to stay in to complete a transaction, I have the Chip reader + that attaches to the phone. Is there anything that you can suggest?
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The contactless chip reader is the way to go for you. A small investment to keep your phone safe, nothing to plug in at all.