RATE Group | US Software Giant Intuit Awarded Patent for Processing Bitcoin Payments via SMS
38259
post-template-default,single,single-post,postid-38259,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

US Software Giant Intuit Awarded Patent for Processing Bitcoin Payments via SMS

09 Aug US Software Giant Intuit Awarded Patent for Processing Bitcoin Payments via SMS

Posted at 20:44h in Bitcoin News by

[ad_1]

U.S. software company Intuit has been awarded a patent for processing Bitcoin (BTC) payments via text message (SMS), according to a filing published by the U.S. Patent and Trademark Office (USPTO) August 7.

The patent, which outlines a system through which users can transfer BTC funds via sending an SMS on their cellphones, was originally filed in 2014, the same year that Intuit’s DIY tax solution QuickBooks partnered with BitPay to create a PayByCoin service for business clients to pay their invoices in BTC.

As the patent outlines:

“The invention […] includes receiving, by a payment service from a payer mobile device of a payer, a payment text message comprising a payment amount and an identifier of a payee mobile device of a payee, validating the payment text message based at least on a payer balance of a virtual payer account maintained by the payment service for the payer.”

Intuit’s patent goes on to describe the interaction between virtual accounts created for the…

[ad_2]

Source link

Tags:
, , , , , , , ,