In­tuit de­vel­ops pay­ments through blockchain

Banking Frontiers - - 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.

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