Launches Free iPhone App for Credit Card Processing

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CHICAGO -- Transparent Financial Services (TransFS), a leading marketplace for businesses seeking financial services, launched the TransFS Card Terminal, an iPhone app that provides businesses with credit card acceptance capabilities in virtually any location, and is the first iPhone app of its kind to be free of cost and provide complete freedom of choice in credit card processor selection, the company reported.

Previously, the cost to download an iPhone app for card processing was as high as $50 per device, and most apps require the user to contract with a specific processor, introducing the complication of multiple invoices and the risk of unexpected price increases. However, TransFS Card Terminal offers businesses the ability to introduce or test mobile card acceptance without the fear of wasted cost or unwanted commitments. It provides card acceptance capabilities without the cost of purchasing or leasing terminals, the company reported.

"Using an iPhone to accept payments adds mobility and freedom for professionals in the field or in an office," Sean Harper, CEO of TransFS said in a released statement. "We believe this freedom should also extend to the price of the app and the choice of credit card processor, and our Card Terminal delivers on that belief."

TransFS is an online marketplace where through a private and secure reverse auction credit card processors bid to win each merchant's business. Credit card processors in the TransFS network undergo a stringent certification process, and are contractually and financially bound to rules regarding price transparency and customer service, the company reported.

The TransFS Card Terminal app and additional information are available at

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