The term ‘traveling salesman’ has a completely different meaning to it these days as people are able to conduct business on planes, trains, and automobiles and just about anywhere else you can imagine because of  iPhone credit card processing.

Because of a variety of iPhone applications, merchants are able to conduct credit card transactions wherever they may be, as long as they have their IPhone with them. They are basically mobile credit card processing terminals.

It’s as easy as it sounds really and the most difficult thing might just be choosing the right iPhone application for you as there are several types on the market that do the trick. Some of the more popular ones on the market are: Innerfence, Transactions, Credit Card Terminal, and ProcessAway. The prices vary, with some applications that are available for free and the higher cost ones hitting about $50.

After choosing and installing the application that suits you best, you can utilize Authorize.net, which is a credit card authorization gateway for merchants. It doesn’t matter which brand of application you choose as long as it is compatible with Authorize.net.  You can obtain the Auth.net gateway by establishing ties with a credit card processing company that resells this gateway. 

In other words, you only need to complete two steps.   You have to open an “Authorize.net merchant account” and then just select an iPhone application.  Once you accomplish these tasks, your handy-dandy telephone transforms into the equivalent of a “cash register.”  Can you hear the ka-ching, ka-ching sound?       

As there are pros to accepting credit cards using the IPhone, there are also costs involved.  Be prepared to dish out about $15-30 a month in merchant account fixed costs. You will also have to pay a per-transaction fee to Authorize.net as well as a percentage of the credit card charge to the credit card company.  In order to contain processing-related costs, itt’s important to look for merchant account providers that waive fees, such as the monthly minimum, batch, and termination/cancellation fees.

While the fees may put you off of the idea initially, you should know that iPhone applications are able to: ring up standard charges, void transactions, make refunds, place holds on credit cards to reserve a specific amount of money to be charged later.

iPhone applications are easy to use as you just key in the number of the credit card, the expiration date and the dollar amount to be charged. It’s also a good idea to take the credit card security code for verification purposes, along with the customer's billing ZIP code.

Once you have entered the data, all you need to do is press the "charge" button in the iPhone software and the credit card process will take place. The information is then sent to Authorize.net servers, which will let you know if the card has sufficient funds for the transaction. Some iPhones will let you print a paper receipt or e-mail one to the customer.

The applications are ideal for merchants as they can result in additional sales and lower the transaction risks. iPhone processing is common with people who perform work on the fly, such as repair companies, cleaners, plumbers, carpenters, electricians, limo drivers, and photographers, etc.

The iPhone is able to work anywhere you have data connectivity and some applications can be used on Internet wi-fi.   

In today’s modern world, many merchants are finding iPhone applications to be an extremely valuable piece of equipment when doing business away from the office.  The costs are affordable, but make sure you do some research and compare brands before laying out the cash for one, as you need to make sure you choose the one that best suits your business needs.