The payment processor Square has launched a Bitcoin payment feature for sellers, allowing them to choose to accept Bitcoin at checkout through its point-of-sale system.
Block co-founder Jack Dorsey stated in a post on X on Monday that with this new feature, merchants using Square can receive payments in Bitcoin to Bitcoin, Bitcoin to fiat, fiat to Bitcoin, or fiat to fiat.
Meanwhile, Square account manager Jacob Szymik mentioned that Bitcoin payments are currently only available for in-person purchases and point-of-sale terminals, but online and invoicing options are "in development," with updates expected to be released soon.
He also reiterated that there will be no fees charged until 2027. Previously, Block indicated that fees would start at 1% after that deadline. In comparison, credit card processing fees typically range from 1.5% to 4%.
Square previewed its Bitcoin payment feature in October, when it launched a conversion feature that allows sellers to convert a certain percentage of their daily card sales into Bitcoin, both of which are part of its payment and wallet solution Square Bitcoin. The company had previously stated that it would launch the service by 2026.
According to the company's data, over 4 million sellers use Square in eight countries, including the United States, France, the United Kingdom, and Japan.
Several X users have reported using the Bitcoin payment feature. Parker Lewis, the business development director of the Bitcoin and fiat payment platform Zaprite, stated that he "witnessed" the feature in action and "bought coffee" at the Texas coffee roaster Medici.
"It’s a great day for Medici, Square, all Square merchants going live with Bitcoin, and the entire Bitcoin community. Bitcoin holders, support your local Square merchants," he said.
I was the first customer to pay with bitcoin at My Coffee in Roseburg Oregon! 🧡 https://t.co/D5mZ8qU70U
Katie Ananina, the Chief Marketing Officer of the tech platform CitizenX, reported that she was the first person to use Bitcoin payments at the same coffee roaster.
"Many of us have tried to get merchants to accept BTC. It has been painful for years," she said in another post.
A July YouGov survey found that among 1,000 respondents in the U.S. and the U.K., 37% believed that payments are the primary use case for cryptocurrency and artificial intelligence.
Dorsey also shared a post from the product design lead of Block's peer-to-peer payment service Cash App, announcing the launch of a map showing all merchants worldwide that accept Bitcoin.
"Convince your local Square sellers to enable Bitcoin acceptance, zero sales fees. Convince them to keep it as Bitcoin to help them better cope with dollar depreciation," Dorsey added.
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Original article: “Jack Dorsey’s Square Opens Bitcoin (BTC) Payments to 4 Million Merchants”
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