04 December 2016

Intuit to process bitcoin payments with QuickBooks Online

27 June 2014  |  6594 views  |  0 bitcoin

Intuit is to make bitcoin payments an option for the 624,000 small businesses who use its cloud-based QuickBooks Online financial management software.

Intuit's new PayByCoin service is made possible via an integration between QuickBooks Online and bitcoin wallet outfit Coinbase.

To use the service, small business operators must 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 and bank transfer, or by bitcoin.

Intuit is providing the connectivity and software services to direct customers to the small business operator's Coinbase wallet, and to record the transactions in QuickBooks Online. The firm says it will not receive or hold any funds related to the PayByCoin transactions, either in USD or bitcoins.

Intuit, which last year processed approximately $40 billion in payments, does not currently charge a fee for this new service. Coinbase does not charge any fees for the first $1 million in bitcoin transactions; after that, a one percent payment processing fee will be levied when converting bitcoin to USD.

Earlier this year. Intuit-owned money management app Mint struck a deal with Coinbase to enable users to view their bitcoin transactions alongside more traditional financial accounts.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Expedia accepts bitcoin for hotel bookings

Expedia accepts bitcoin for hotel bookings

12 June 2014  |  6337 views  |  0 comments | 7 tweets | 10 linkedin
Coinbase hires Facebook's Ryan McGeehan to build security programme

Coinbase hires Facebook's Ryan McGeehan to build security programme

20 March 2014  |  4110 views  |  0 comments | 3 tweets | 1 linkedin
Mint PFM platform to track bitcoin transactions

Mint PFM platform to track bitcoin transactions

30 January 2014  |  4674 views  |  0 comments | 10 tweets | 5 linkedin
Coinbase scores $25 million funding round as VCs pile into bitcoin

Coinbase scores $25 million funding round as VCs pile into bitcoin

12 December 2013  |  4106 views  |  0 comments | 3 tweets | 2 linkedin
Square integrates with Intuit QuickBooks

Square integrates with Intuit QuickBooks

25 September 2013  |  4904 views  |  0 comments | 3 tweets | 5 linkedin
Coinbase lets users text bitcoins

Coinbase lets users text bitcoins

16 August 2013  |  6984 views  |  0 comments | 5 tweets | 2 linkedin
Intuit agrees $1bn sale of financial services business

Intuit agrees $1bn sale of financial services business

01 July 2013  |  6277 views  |  0 comments | 13 tweets | 8 linkedin
Intuit opens up financial data service APIs to third party developers

Intuit opens up financial data service APIs to third party developers

11 September 2012  |  6499 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Find out moreVisit VocaLink.comVisit capgemini.com

Top topics

Most viewed Most shared
Royal Mint to issue digital goldRoyal Mint to issue digital gold
6601 views comments | 23 tweets | 21 linkedin
Bank CEOs fret about ROI as startups drive IT arms raceBank CEOs fret about ROI as startups drive...
5715 views comments | 16 tweets | 21 linkedin
UK challenger bank Masthaven opens for businessUK challenger bank Masthaven opens for bus...
5709 views comments | 15 tweets | 13 linkedin
ING pulls plug on P2P payments app TwypING pulls plug on P2P payments app Twyp
5607 views comments | 16 tweets | 15 linkedin
R3 and Calypso to develop blockchain trade confirmation systemR3 and Calypso to develop blockchain trade...
5594 views comments | 13 tweets | 12 linkedin

Featured job

to Six-Figure Base, Bonus, Benefits
London, UK

Find your next job