Biz owners who’ve embraced the iPhone have another reason to rejoice: A new application just out that effortlessly turns your iPhone (and hey, it works on an iPod Touch, too) into a credit card processing device you can take (almost) anywhere.  Use your iPhone to collect real money with ProcessAway, an awesome new app that will sell soon via the iTunes AppStore for $19.99.

You can easily process charges at conventions, trade shows or street fairs. If you operate a mobile biz like car detailing, contracting, consulting or dozens of others, this could change your life. ProcessAway works on any available network connection. Linked with an Authorize.net merchant account, ProcessAway uses real-time card authorizations to put profits in your pocket, fast. And you may already own the hardware.

With a single account, you can download your sales data directly into QuickBooks, either by iPhone, iPod Touch or from your desktop PC using the application’s web-based “virtual terminal.” A fully-functional free version called ProcessLite is identical to ProcessAway, except the charge amount is limited. This is a new mobile solution that really works for small business, startup entrepreneurs and others.

What about receipts, you ask? No problem.  Email the customer a receipt with a few quick steps.  Need to void a charge? Easy too.  Just select the charge on your Transactions Log and hit “void.”  The ProcessAway website has clear instructions on these and other steps under Key Features.