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.