QuickBooks Online has become the first cloud accounting solution to enable small businesses to accept Bitcoin payments. Information regarding the announcement came from the official blog that the company keeps to update its clients. The blog says that Intuit has added PayByCoin, a free extension for QuickBooks Online that allows business owners to accept Bitcoin.
According to the blog, the service links Intuit’s QuickBooks Online to Coinbase, a Bitcoin merchant services provider based in Silicon Valley. The announcement says that the merchants who want to accept Bitcoin must register with Coinbase and link the wallet they create with a QuickBooks Online account.
The blogger for the company says that PayByCoin generates electronic invoices, which are sent to the customer with a prompt to pay by traditional methods or with Bitcoin. The application has become popular among clients as it can now be used in computer, iPad, iPhone, or Android and provides complete security to data.
Moving ahead further the company decided to enable clients accept the digital currency that is hitting the new heights every passing day. Several companies that use QuickBooks and want to accept Bitcoin may now be able to do so without any hassle as the app has been designed to provide safe and secure method for the purpose.
Intuit says that PayByCoin is just the latest example of how the QuickBooks Online ecosystem has become the worldwide leader in cloud business management by offering small businesses an unprecedented ecosystem of easy-to use solutions to drive growth.
The Modus Operandi of PayByCoin
The announcement says that PayByCoin is now available as a free add-on to small business operators who use QuickBooks Online to generate electronic invoices. Now, small business operators register with CoinBase and link their wallets to their existing QuickBooks Online account.
Also, when a customer receives an invoice, they receive the option to pay by traditional methods, such as credit card, or by Bitcoin. Additionally, according to Intuit it does not currently charge any fee for this new service, and there is no fee for small businesses that use Coinbase
The latest effort on the part of Intuit is to further its aim to be proactive about experimenting with new technology as well, creating payments applications for wearable technology. Now, with PayByCoin service has shown to its clients that it is a sincere about what it promises.
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