Jack Dorsey’s Square Rolls Out Bitcoin Option for In-Person Transactions
- Square lets four million sellers accept Bitcoin payments through its POS network.
- The feature offers zero transaction fees until 2027, driving merchant adoption.
- Jack Dorsey aims to merge Bitcoin use with modern payment infrastructure globally.
Square, the payment processor owned by Block Inc., has launched its Bitcoin payment feature for sellers, allowing merchants to accept Bitcoin directly at checkout. The feature is available through its point-of-sale (POS) system and currently supports in-person transactions.
Jack Dorsey, co-founder of Block, confirmed the rollout in an X post on Monday. He explained that sellers can now choose between Bitcoin-to-Bitcoin, Bitcoin-to-fiat, fiat-to-Bitcoin, or fiat-to-fiat payment options. This flexibility gives merchants full control over how they receive and manage funds.
Jacob Szymik, an account executive at Square, said Bitcoin payments are currently limited to physical stores but added that online and invoicing options are “in the works.” He hinted that new updates are coming soon, expanding the integration beyond in-person purchases.
Zero Fees Until 2027
Square’s Bitcoin payment feature comes with no transaction fees until 2027, offering an early incentive for merchants to adopt it. Szymik confirmed that once the introductory period ends, Square plans to apply a 1% fee on Bitcoin transactions. By comparison, traditional credit card processing fees range between 1.5% and 4%.
The new system’s built-in conversion tool allows merchants to automatically convert a portion of their card sales into Bitcoin. This automation makes it easier for sellers to hold Bitcoin without manual transactions. The service was first unveiled last month as part of the company’s broader effort to merge digital assets with traditional payments.
Hunter Horsley, CEO of Bitwise Invest, remarked that the feature enables “four million merchants to now accept Bitcoin as a medium of exchange.” He added, “Zoom out: it’s all happening,” capturing the growing acceptance of digital currencies in retail commerce.
Dorsey’s Bitcoin Vision Gains Traction
Jack Dorsey has long advocated for Bitcoin as the “native currency of the internet.” Through Block, he continues to invest heavily in Bitcoin infrastructure. The company currently holds over 8,000 BTC, valued at around half a billion dollars.
In 2024, Block’s gross profit was $21.9 billion, which showed a reflection of its growth in both financial technology and crypto innovation. The Bitcoin payment rollout is one of the steps taken by Dorsey towards his open financial system vision, connecting users and businesses around the world.
Square had already hinted at the Bitcoin feature in October when it launched a conversion tool that let sellers automatically invest a portion of their daily card sales in Bitcoin. This enhancement builds upon that foundation and brings Square one step closer to realizing its goal of making digital assets a part of everyday payments.
Related: Mt. Gox Has Postponed Bitcoin Repayments Until October 2026
Early Adoption and User Experiences
The rollout has already seen adoption from local businesses in the United States. Parker Lewis, head of business development at Zaprite, confirmed on X that he used the feature to buy coffee at Medici, a Texas-based coffee roaster.
“Great day for Medici Square, with all the Square merchants going live with Bitcoin and Bitcoin in general. Bitcoiners, support your local Square merchants,” Lewis said.
Katie Ananina, Chief Marketing Officer at CitizenX, also confirmed being among the first to use the Bitcoin payment option. “Many of us tried to onboard merchants to accept BTC. For so many years, it was painful,” she said.
She added that Square’s new feature “makes the entry point so much lower” for businesses, calling the update “absolutely legendary.”
With the integration now live across eight countries—including the United States, France, the United Kingdom, and Japan—the initiative reflects Square’s ongoing effort to merge digital currency with real-world transactions.
