From an article on msn.com:

"With the iPhone's Inner Fence application, even you can accept credit cards. If you want to sell jewelry at the fair or open a booth at the local flea market, this is your chance. It will cost you $50 for the application, plus $15 per month for a payment gateway service and $10 per month for a customer-service processing system."

Granted this isn't a free way to earn miles, but I'm sure some creative minds could use this iPhone app as a way to not have to lug $1 coins to a bank for miles.

I don't own an iPhone, so I have no way of giving any FT'er specifics. Perhaps someone with access to iPhone apps here on FT can shed some light on this iPhone app. Just saw the article on MSN and thought some creative minds on FT could have fun with this.