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