Trial version of iPhone credit card processing app available

By Seamus McAfee

iPhone users' wait for ProcessAway -- an application that can turn their mobile devices into handheld credit card terminals -- just got a little shorter.

ProcessAway's developers announced on Feb. 17 they will offer a free trial version of the program on their website, as Apple has not yet approved the software. By temporarily bypassing the approval process for iPhone applications, the app's developer, Rapadev, said, it can allow credit card merchants to immediately make credit card transactions through their iPhones anywhere an Internet connection is available.

"Our purpose is to allow merchants to start processing mobile transactions now and not subject them to the wait of Apple's mysterious approval schedule," said Randy Palermo, a member of Rapadev, in a press release.

The ProcessAway application runs through Authorize.net, a payment gateway that provides secure financial transactions. Subscribers can submit charges, holds, void transactions, and process credit and refunds. Because ProcessAway runs wirelessly and provides sufficient security, it is not required to comply with Payment Card Industry security standards. Similar to other online credit card transactions, users are required to enter a valid credit card number and expiration date, which are not stored after a payment is authorized. ProcessAway users can also apply for fully compatible accounts with Capital Merchant Solutions.

The ProcessAway software was submitted to the Apple Store on Jan. 26 and, as of Feb. 19, is still being reviewed. Rapadev said ProcessAway will be offered free on its website with an expiration date of 30 days. When ProcessAway becomes available in the AppStore, users will be required to purchase it from Apple after their trial versions expire.

Published: February 20, 2009

	Three most recent Emerging payment systems: Prepaid, debit, gift cards stories: Pros and cons of tax refund prepaid cards – Getting your IRS refund on a prepaid card -- offered by most big tax preparation firms -- has its benefits, especially for those without a bank account ... Don't toss out that expired Groupon – Deals from Groupon and other daily deals sites aren’t so great when they expire before you can use them. Luckily, there’s some good news for procrastinators: Just because your Groupon expired doesn’t mean you lose all your money on it ... How to save on debit card foreign transaction fees – We've researched what each major debit card issuer charges in foreign transaction fees -- and give you tips for avoiding them ...

	CreditCards.com's newsletter Did you like this story? Then sign up for CreditCards.com’s weekly e-newsletter for the latest news, advice, articles and tips. It's FREE. Once a week you will receive the top credit card industry news in your inbox. Sign up now!