Theoretically you could use any headphone extension cord to ease this problem considering it most likely uses an audio signal to pass the information. This would in turn let you attach the reader elsewhere on the phone.
Although it seems like part of the point is to have a tiny device you can just pull in and out of your phone at need be.
What about wear and tear on the audio in jack? Gas pumps and grocery stores have card swipers that look like little tanks bolted on.