Jack Dorsey’s Square Has Just Opened Up 4m Merchants To Bitcoin

X users have already reported using the new Bitcoin payment feature at coffee shops across the United States.

Payment processor Square has launched its Bitcoin payment feature for sellers, allowing them to opt in and accept Bitcoin at checkout through its point-of-sale system.

Jack Dorsey, co-founder of Block, which owns Square, said in an X post on Monday that with the new feature, merchants using Square can receive Bitcoin to Bitcoin, Bitcoin to fiat, fiat to Bitcoin or fiat to fiat payments.

At the same time, Jacob Szymik, an account executive at Square, stated that Bitcoin (BTC) payments are currently only available for in-person purchases and point-of-sale terminals, but online and invoicing options are “in the works,” and teased that updates would be coming soon.

He also reiterated that there will be no fees until 2027. Previously, Block indicated fees would start at 1% once the period expires. In comparison, credit card processing fees typically range between 1.5% to 4%.

Square teased its Bitcoin payments in October when it launched a conversion feature allowing sellers to convert a 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 said it would roll out the service by 2026.

More than four million sellers use Square across eight countries, including the United States, France, United Kingdom and Japan, according to the company.

Several X users have already reported using the Bitcoin payment feature. Parker Lewis, the head of business development at Bitcoin and fiat payment platform Zaprite, said he has seen it operating “with my own two eyes and bought coffee” at Medici, a coffee roaster in Texas.

“Great day for Medici, Square, all the Square merchants going live with Bitcoin and Bitcoin in general. Bitcoiners, 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

Source: CoinTelegraph