How Square’s New Bitcoin Payments Could Change How Merchants Accept...

Square’s new Bitcoin payments may redefine how merchants accept money online with faster settlement, lower costs and greater financial control.

Square is enabling 4 million merchants to accept fast, low-fee Bitcoin payments through the Lightning Network.

The rollout turns Bitcoin into a practical checkout option with instant settlement and no processing fees until 2027.

Bitcoin payments can expand customer choice, cut costs and streamline cross-border transactions for online sellers.

Merchants must still consider volatility, compliance, irreversible payments and customer adoption before integrating Bitcoin.

Block, a payments infrastructure company led by Jack Dorsey, has introduced a Bitcoin payments platform through Square. The rollout gives Square’s US merchant network, which includes roughly 4 million businesses, the ability to accept Bitcoin (BTC), with availability expanding in phases.

This development is significant because it helps shift Bitcoin from a specialized asset mainly used for long-term holding to a practical option for everyday transactions. In online commerce, offering additional payment methods is essential for staying competitive.

This article explains how the feature works and what it means for online and omnichannel merchants. It also explores how it could affect the broader payments industry and the factors merchants should consider.

Block presents this service as a simple and integrated Bitcoin payments and wallet solution for businesses, allowing sellers to receive payments in Bitcoin.

The process is straightforward. A Lightning invoice quick-response (QR) code is generated at checkout, the customer pays using a compatible wallet, and the funds settle promptly. This gives merchants an efficient, low-friction alternative payment method.

Source: CoinTelegraph