Intuit, a US-based financial software company, has unveiled a new bitcoin payment service in Australia that allows small businesses to accept bitcoin payments from their customers.
Known as PayByCoin, the service will allow QuickBooks Online users to accept the virtual currency bitcoin as a form of payment from customers.
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The platform combines Intuit’s QuickBooks Online with global bitcoin payment processor BitPay, allowing users to invoice and accept payments in bitcoin and receive a next-day bank account settlements from bitcoin payments.
Intuit will not accept or hold any funds related to the PayByCoin transactions while integrating bitcoin transactions within Quickbooks Online.
Intuit Australia managing director Nicolette Maury said: "QuickBooks Online was the first cloud accounting solution to enable small businesses to accept bitcoin payments and we believe this offering will deliver fresh opportunities for our small business customers.
"It provides an efficient, safe, and seamless payment option that doesn’t sacrifice their revenues in credit card transaction fees," she added.
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