Intuit, the maker of the popular QuickBooks and TurboTax software, has approached the accessory maker Mophie, and they have both come up with a card reader and application for the iPhone that allows small businesses to accept credit card payments on the go with their iPhone.
Mophie makes the clip-on card reader, and Intuit sets up the merchant account for you, after you apply through the GoPayment app. The press release claims that you should be good to go in fifteen minutes, and the customer can sign the bill straight on the iPhone's touchscreen. An inventory list can now be added to the receipt, and emailed or texted to the customer for record keeping purposes.
The product, called Complete Credit Card Solution, is available in retail stores, and soon on Apple.com for $179.95, but it only supports the iPhone 3G and 3GS for now.