Credit Card Processing via Mobile Phone
I thought it was pretty cool when the attendent at Mike's Express Car Wash swiped my credit card into a handheld device then printed a receipt in less than 60 seconds. However, I'm a little leary of a merchant using their iPhone to process credit card payments.
With a third-party software, like Credit Card Terminal by Innerfence, the merchant enters your credit card information and the software processes the transaction using Authorize.net, a payment gateway service.
To me, it seems too easy to have your credit card information stolen. Even if the software is as safe as it claims, who's to say the merchant hasn't rigged his (or her) phone to trap your credit card number. Maybe I'm being skeptical. What do you think? Would you let a merchant process your credit card through their iPhone or even a Blackberry?