I went to amazon.com and read up on the two cameras and it appears that they are nearly identical with the exception of the megapixels.
sorry about saying it would not work: i only looked to see if your camera model was on the list.
since the cameras are so similar, the s50 will most likely work. both cameras state: Direct connection to Canon CP Printers and select BJ Photo Printers (no computer required)
according to:
S70
S50
so compatibility with the camera connector should be the same