WePay, a Square and PayPal competitor that allows individuals and small businesses to accept credit cards and send invoices online, has gone mobile. WePay’s 1.0 mobile app for iOS was launched February 10, and a 1.1. update arrived on February 27.

There is no Android app at this time.

WePay explains how the iPhone app came to be in this blogpost composed entirely of animated GIFs.

The features of the mobile app as listed in the App Store are:

– Accept credit cards at just 2.9% + 30¢ per transaction
– Professional, mobile invoices and a robust invoice management tool
– Mobile registration: get signed up and started right away
– Sync with WePay’s website to manage your mobile business in your office
– Track payment status and get up to date information about your funds

The mobile app does not rely on a dongle, but instead asks users to enter the card information by hand.

The 2.9% +30¢ fee is a bit higher than competitors Square (2.75%) Intuit GoPayment (2.7%) and PayPal Here (2.7%). But WePay is doing fine. In mid-2012 the startup received $10 million in funding from investors led by Ignition Partners. This funding arrived on the strength of WePay’s announcement that it was clocking more than one transaction per minute to start 2012.

Another competitor is startup Plastiq. The space is a crowded one.

WePay’s main strength is its API, which allows sites to quickly up and start accepting credit card payments.

Learn more about mobile payments at Bank Innovation 2013. Request your invitation here.