Bitcoin | Newly Introduced Payment Solution
By Xero Adds Veem
Bitcoin been a cryptocurency and a top leading coin among cryptos was introduced as a payment solution on the Accountancy Platform powered Payment logo.
Users of cloud-based accountancy platform Xero, can now conveniently send payments through the blockchain network.
This is aimed to make life easier for all small businesses that are being carrying out cross-border trade.
More About The Payment Solution
The new payment solution feature comes in courtesy of bitcoin-powered global payments startup Veem, that revealed its integration with the online accounting service in a statement provided to CoinDesk.
The news implies that all the Xero users can now enter a bill in the accounting software and, with a few clicks, pay it through Veem.
Transactions that are going to be made in this way will have a Veem payment ID which will automatically synchronize to their Xero reconciliation report.
The payment feature will also enable users to set up automatic payments, as well as to see details on currencies and exchange rates.
Mark A. Gilbert, CEO of MBS Accounting Technology & Advisory, is quoted in the statement as saying:
“Connecting Veem with Xero simplifies international payments even further by eliminating double entries and simplifying reconciliation.”
Xero is the second accounting software with which Veem has integrated. In June, the firm announced that customers could send payments via Intuit QuickBooks.
Formally known as Align Commerce, Veem secured funding of $24 million back in March as part of its plan to simplify global payments using blockchain tech, as reported by CoinDesk. The startup provides fiat transfers to over 60 countries, using bitcoin as a payments rail.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has ownership stake in Veem.
Other Merchants and online sellers have started accepting bitcoin as mode of payment. If you own online business, what are you waiting for? go ahead and start accepting bitcoin on your platform. It is faster and easy to implement.