The MagTek iDynamo Card Reader is a credit card swiper that plugs into your iOS device via a Lightning connector. The iDynamo Card Reader does not support tap or PIN payment. Only use the card reader that you obtained directly from Lightspeed to ensure that it is properly encrypted. The iDynamo Card Reader is supported in the U.S. with Lightspeed Payments as well as several Lightspeed-integrated payment processors, such as Cayan, Worldpay (formerly Vantiv) and Bridgepay.
The setup process with Lightspeed Payments is identical to the setup process for any other payment processor. You can find that process here: