INTEL: Jack Dorsey’s Square completes Bitcoin payments rollout for US merchants
Square, the business payments service of Jack Dorsey’s Block, has completed its phased rollout of Bitcoin payments to merchants in the United States. Eligible sellers can also accept payments over the Bitcoin Lightning Network.
Under the service, customers can pay in BTC. Merchants then choose whether to receive the payment in US dollars or keep it as Bitcoin.
Fees: free through year-end, then 1%
Square is waiving its Bitcoin payment processing fees through the end of this year. After that, it plans to charge a 1% fee on Bitcoin payments.
The information available does not say which merchants count as eligible for Lightning payments, and it gives no volume or adoption figures for the rollout. The story is still developing, and further details on eligibility and how the fee will work would come from Square or Block.
