iPhone Application Functions Like a Credit Card Terminal

A new application for the iPhone, just made available today, lets you charge customer credit cards through your iPhone.

According to Innerfence, the Seattle start-up that developed the virtual terminal, it's ideal for small business owners who frequently sell goods or services on-location. If you do business at art festivals, conventions, or provide IT services, car windshield repair, etc., it could make your life, and your customer's, a lot easier.

A range of features includes integration with Authorize.Net for payment processing and SSL security. It doesn't actually allow for a card swipe, so the processing fees are a little higher than if you had a real terminal.

The application is available for a one-time fee of $49.99.