Intuit develops payments through blockchain
Enterprises using Intuit QUICKBOOKS accounting software can now send international payments via blockchain payment provider Veem as an alternative to traditional wire transfers. Intuit said the integration is aimed at helping accounting professionals streamline operations, while reducing fees. The spread between buying and selling a currency via Veem ranges from 1.5% to 1.9%, based on the transaction size. Users can currently send and receive money from 24 countries via the service, leveraging the ability to transact in multiple currencies. Intuit has been experimenting with enabling merchants to leverage the bitcoin blockchain, first through R&D efforts and later adding Coinbase as a payment option for its merchant network.