Businesses can now accept bitcoin payments
Australia’s two million small businesses are set to benefit from the launch of the innovative new PayByCoin service.
Intuit, the makers of QuickBooks Online, have launched this service in Australia. This new service will allow you to expand your payment options for customers to include virtual currency like bitcoin.
This free service integrates QuickBooks Online with global bitcoin payment processor BitPay. You can now create invoices and seamlessly accept payments in bitcoin and receive a next-day settlement to your bank account.
The launch of PayByCoin is an exciting development for local businesses and has already gained strong traction among early adopters in the United States, said Nicolette Maury, Managing Director of Intuit Australia.
‘PayByCoin can be turned on within QuickBooks Online in the click of a button and is all about giving Australian small businesses more flexibility in accepting payments from customers.’
Advantages
Key advantages of PayByCoin include:
- No Fees – BitPay offers unlimited payment processing and there are no foreign transaction fees or hidden surcharge fees.
- Simple and seamless cross-border transactions – You never have to negotiate a bank transfer.
- No charge backs – Bitcoin transactions are irreversible. This reduces fraud and improves funds availability.
- Quick deposits – Bitcoin transactions settle immediately and local payouts take place the next day.
Easy to get started
‘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,’ Ms Maury said.
To get started, QuickBooks Online users should click on the gear icon when logged in, navigate to QuickBooks Labs and follow the prompts to activate PayByCoin. Once activated, PayByCoin can be managed on the QuickBooks Online Company Settings page.
For additional information visit paybycoin.intuit.com.
