QuickBooks experimenting with Bitcoin payments

Quickbooks is testing out its new QuickBooks Bitcoin Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term feature. It would allow merchants to accept bitcoins as payment and have them immediately converted into fiat, a service currently offered by Coinbase, BitPay and others.

QuickBooks is the accounting software package developed by Intuit. It streamlines the bookkeeping and accounting processes for small and medium-sized businesses and has recently added a point of sale (POS) solution.

The merchant would avoid all exposure to bitcoins, including the price volatility and the risk of loss that comes with hosting your own wallet.

QuickBooks lauds Bitcoin for sparing merchants from the fees and fraudulent chargebacks found with credit card transactions. As for traditional payment options, "cash is troublesome to keep track of, checks have lots of friction (writing, mailing, depositing)."

The company experimented with bitcoins during "incubation week" and came up with this solution. Those interested are invited to sign up to the beta waiting list. They are gathering feedback, which already includes adding nxt and other Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term, allow employees to get paid in bitcoins and tax/cost basis reporting.

It is unclear this point if the integration is being performed in-house or with a Bitcoin payment processing partner. This may very well determine the availability for alternative cryptocurrencies.