Though we don't have a specific recommendation for an inexpensive replacement device, you can see all of the supported devices on our compatibility page. From there you can decide which device will work best for your business.
As for the shift to chip cards, there is not a hard deadline as to when you can no longer accept magnetic stripe cards, starting October 1st 2015 you are taking on a greater liability if you choose to swipe a card instead of use the chip. We have tons of information regarding the shift and how to protect you business, check out our site to get started learning!
