More than five million new credit and debit card terminals may be brought into being thanks to a new application which will allow merchants with iPhones to make debit and credit card transactions.
The new application is called ProcessAway (http://processaway.net/) and will work with merchants who have merchant accounts with the Authorize.net internet transaction gateway. Merchants who have iPhones or Touch iPods will be able to use the application.
Transactions can be processed at places such as conventions, street fairs, antique shows, and by business owners performing mobile detailing, on-site consultation or construction, the company said.
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"The list is endless on who could benefit by offering the convenience of accepting credit cards on the spot and the confidence of getting immediate authorization for a credit card payment," the software developer Rapadev said when announcing the software.
When asked about whether the new technology conforms to card data security standards, Randy Palermo with Rapadev said that it did.
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