Skorpiostech Inc., released Transactions 1.0 last week and is available at the iTunes App store for $29.99. Transactions allows users to accept credit card as a form of payment right from their iPhone or iPod Touch. Transactions works by processing the credit card transactions through Authorize.net or PayPal. Transactions features:

• Works over Wifi, 3G or EDGE.
• Fast data entry with smart field completions.
• Transaction log view with the ability to export to your home or work computer.
• Password protected settings.
• Confidential information is secured using Apple’s Keychain.
• Import customer data from your address book.

Transactions requires an Authorize.net or PayPal Website Payments Pro account and iPhone OS 2.2.1. Obviously, if you’re using it on an iPod Touch, you’re also going to need a WiFi connection. Skorpiostech posted an FAQ on their website that shows you how to set up Transactions on your iPhone.

Skorpiostech is also offering Transactions Lite, a free version of the app that allows users to process up to two approved credit card transactions every 12 hours. We installed Transactions Lite and following the FAQ were able to set it up no problem. We haven’t actually processed any transactions yet as we don’t want to pay the fees assessed by PayPal. However, the app seems to be a solid app and if you need a budget friendly, mobile credit card processing solution you should give it a look.

Tags:app, financials

How does this work: the economy is in a recession and people are losing jobs at an alarming rate and Apple just had a record breaking quarter. You heard right folks, our favorite fruit company just reported record sales, revenue and profits. Read Apple’s official press release if you don’t believe us.

MacRumors sums it up very nicely.

Next quarters guidance isn’t so rosy but that’s to be expected and of course, Apple’s guidance is always very, very conservative.

Tags:corporate, earnings, financials

In case you haven't heard, Apple reported $7.9 billion in revenue last quarter and generated $1.14 billion in profits. That's a lot of doughnuts.

"Apple just reported one of the best quarters in its history, with a spectacular performance by the iPhone -- we sold more phones than RIM," said Steve Jobs, Apple's CEO. "We don't yet know how this economic downturn will affect Apple. But we're armed with the strongest product line in our history, the most talented employees and the best customers in our industry. And $25 billion of cash safely in the bank with zero debt."

MacRumors has the complete lowdown and breakdown of Apple's fourth quarter results.

John Gruber of Daring Fireball fame has posted an interesting piece on how the iPhone fits into all this.

The entire iPhone platform is only 15 months old. The cheapest model still costs $199. The room for growth in this market is unlike anything Apple has ever seen. So the question is: Despite continuing strong iPod sales and record-breaking Mac sales, how long until the iPhone is undeniably the primary product and platform made by Apple?

It's an interesting piece and well worth a read.

Tags:corporate, financials