The iPhone as credit card terminal?

New software from a few companies can turn an iPhone into a machine that can authorize credit card payments via the iPhone and iTouch handsets, according to Finextra. So you could be your own mobile business, accepting card payments anywhere your phone works.

Credit Card Terminal, available through the iPhone AppStore for $49.99, comes from Seattle-based Innerfence, started by two ex-Microsofties. Another product called ProcessAway has been submitted for Apple review by Randy Palermo of Rapadev. In Australia , iCharge for iPhone from Xilo is available already. Both U.S. options work via the Authorize.net payment gateway. Will we see something for the BlackBerry? Will banks try to get in on this? Seems like a decent small business offering.

For more:
- here's the Finextra article

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