Square has officially integrated Bitcoin-payments on November 10th, allowing more than four million merchants in the US (excluding New York) to accept BTC at checkout.
A new feature called «Bitcoin-payments» integrates with Square’s point-of-sale system and uses the Lightning Network for instant transaction processing. Depending on their business needs, merchants will be able to accept both Bitcoin and US dollars.
Square said it would be more profitable to set a zero processing fee until 2026 and a flat 1% fee starting January 1, 2027.
To activate this feature, merchants must log in to their Square dashboard, navigate to Banking →Bitcoin» and enable «Bitcoin Payments.» When the buyer selects Bitcoin When placing an order, a Lightning account QR code is displayed on the terminal. Scan it with any Lightning-enabled wallet, such as Cash App, and the funds will be credited almost instantly.
The seller’s control panel also integrates calculations, reporting, and tax control.
At the same time, Square has introduced some restrictions. For example, individual Bitcoin payments are limited to the equivalent of $600 in Bitcoin, and the daily limit is approximately $20,000 per merchant. Refunds will be processed via e-gift cards covering the purchase amount in US dollars.
Square integration positions Bitcoin as more than just an investment: it’s now a functional payment instrument built into one of the most popular trading platforms in the US.