QuickBooks Online Users Can Now Accept Bitcoin Payments

Bitcoin payments have become increasingly more mainstream, and will continue to grow in popularity as QuickBooks now accepts the payment option. Intuit’s QuickBooks is the first web-based small business accounting solution that includes support for accepting Bitcoin payments through the PayByCoin service.  The PayByCoin service integrates QuickBooks Online with Coinbase, which is an online Bitcoin wallet service that is growing in popularity in the U.S. PayByCoin is now available as a free add-on to small business operators who use QuickBooks Online to generate electronic invoices. Here’s how it works:

·         Small business operators register with Coinbase and link their wallets to their existing QuickBooks Online account.

·         When a customer receives an invoice, they receive the option to pay by traditional methods, such as credit card, or by Bitcoin.

·         Intuit does not currently charge any fees for this new service, and there is no fee for small businesses that use Coinbase.

·         Intuit is providing the connectivity and software services to direct customers to the small business operators Coinbase wallet, and to record the transactions in QuickBooks Online. Intuit will not receive or hold any funds related to the PayByCoin transactions, either in USD or Bitcoins.

Sage Introduces New Exchange Payment Management System

Sage North America has introduced its new Sage Exchange Payment Management System, which is designed to help small and midsized businesses by consolidating all of their payment activity onto one platform. Sage Exchange can also be used to monitor and manage payments from all sales environments: on the web, over the phone, through mobile devices, or at their storefront. The consolidated activity and information can be accessed and administered online from anywhere. Businesses can manage not only credit card transactions, but also gift cards, mobile payments and checks in real time. Sage Exchange also allows businesses to connect their Sage accounting or enterprise resource planning (ERP) software to their payment devices for automated reconciliation activity, as well as access the Sage support group or self-service portal. The three core components the Sage Exchange Payment Management System was built on are:

1.      Consolidated access to all payment accounts and devices

2.      Advanced payments administration and reporting

3.      Simple integration tools to connect payment solutions with Sage accounting products

If you have any questions or would like more information about Sage services, please contact us.

McAfee Reports Mobile Malware Is On the Rise

According to the June 2014 McAfee Labs Threat Report, mobile threats are on the rise, and are expected to continue to increase. New mobile malware has increased for five straight quarters, with a total mobile malware growth of 167% in 2013 alone. Total mobile malware has increased steadily since the first quarter of 2012. The report also noted two key issues that are important to be aware of:

1.      Beware of Flappy Bird clones: After the original Flappy Bird app was pulled from app stores in February, clones of the app were created to meet demand and McAfee found that 79% of these apps contained malware. This malware could be used to make calls, install additional apps, send and receive messages, extract contact data, track geo-location, and establish root access (which would allow uninhibited control of the app). McAfee warns consumers to be wary of free, third-party apps.

2.      Mobile malware is attacking apps and services: Mobile malware traditionally attacked standard mobile platforms, but malware developers have recently started abusing vulnerability in apps and services. The McAfee report found malware that abuses Google account authentication, obtains money through VISA QIWI Wallet, and takes advantage of encryption weakness in the popular messaging app, WhatsApp. McAfee is urging consumers to be more careful when granting app permission requests, and developers to work harder to protect apps and services from malware.

This report from McAfee stresses that cyber threats are increasing and businesses and consumers need to be more alert and take greater precautions when using mobile application. The full report from McAfee can be accessed through this link.