Take credit card payments on your iPhone

An iPhone app with a cheap gizmo and supporting service to let anyone receive credit card payments on their iPhone.
The IRS probably loves making underground cash transactions traceable 😉 It’s a cool app and device, but I don’t see who would use it yet.

Also, I wonder what is the per payment fee to Visa/MasterCard/etc.

Update (2010/01/05): a competing product, Mophie, was shown at CES.

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