Seattle Startup Lets You Process Credit Cards on an iPhone

TechFlash reports that Seattle startup Innerfence has created a $49 iPhone application that allows you to process credit cards using only your iPhone.

That means a merchant selling T-shirts on the Seattle waterfront or a craft maker at the Fremont Sunday market could whip out their iPhone, input a customer's credit card information and process the sale on the spot.

But they still don't accept credit cards at the Boeing cafeteria.