Intuit wins a patent for Bitcoin payment processing platform

Intuit Inc., one of the American’s most innovative fintech – audit companies, has been awarded a patent from the US Patent and Trademark Office for a new, bitcoin payment processing platform.

Intuit is based in Mountain View, California and currently has a headcount of around 8,000 people. With subsidiaries that include Mint.com and PayCycle, Intuit primarily develops financial and business software for small and medium-sized companies, accountants, etc.

According to their patent, the system will allow Intuit’s users to exchange bitcoin through a simple text message. This is basically the innovation that Intuit won this patent for, since up until now, there have been numerous ways to buy and sell Bitcoin, but exchange was never done through a text message.

There are several aspects to the innovative system that Intuit has created. First, the payment requests will be validated through different methods: either through a regular password confirmation code, which is usually used…