QuickBooks Integrates with Coinbase to Allow Bitcoin Payments

By Bailey Reutzel June 25, 2014, 2:03 p.m. EDT 1 Min Read

Intuit has added PayByCoin, a free extension for QuickBooks Online that allows business owners to accept Bitcoin.

The service links Intuit's QuickBooks Online to Coinbase, a Bitcoin merchant services provider based in Silicon Valley.

Merchants who want to accept Bitcoin must register with Coinbase and link the wallet they create with a QuickBooks Online account. PayByCoin generates electronic invoices, which are sent to the customer with a prompt to pay by traditional methods or with Bitcoin.

"PayByCoin is just the latest example of how the QuickBooks Online ecosystem has become the worldwide leader in cloud business management by offering small businesses an unprecedented ecosystem of easy-to use solutions to drive growth," says Intuit in a June 24 blog post.

Point of sale providers are being pressured to expand their feature set beyond just the payment. Intuit has been a popular choice to bring more value for point of sale providers, with Vend and Flint integrating with Intuit's accounting software last week. QuickBooks also supports Square.

Intuit has been proactive about experimenting with new technology as well, creating payments applications for wearable technology such as Google Glass, smartwatches and fitness bands.

Intuit will not hold funds, in U.S. dollars or Bitcoin, for PayByCoin transactions.

Bailey Reutzel

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