Square has launched Bitcoin Payments for eligible merchants across the United States, allowing them to accept Bitcoin at the point of sale with no processing fees through the end of 2027. The feature, announced on 10 November 2025, marks a significant expansion of the payments company's cryptocurrency offering beyond simple conversion tools and into live merchant acceptance at the checkout. The rollout began with eligible US sellers and is being extended progressively across the platform.
The rollout began with eligible US sellers and is being extended progressively across the platform. Merchants who accept Bitcoin through the feature can choose to hold their proceeds in Bitcoin or convert them instantly to US dollars, giving them flexibility over how they manage currency exposure on a transaction-by-transaction basis. That optionality is designed to appeal both to business owners who wish to accumulate Bitcoin on their balance sheet and to those who simply want dollar settlement regardless of how the customer chooses to pay.
LIGHTNING NETWORK POWERS SETTLEMENT
Square's Bitcoin Payments feature runs on the Lightning Network, a payment protocol built on top of the Bitcoin blockchain that enables near-instant settlement at very low cost. The technology eliminates the multi-minute confirmation times associated with on-chain Bitcoin transactions, making it practical for retail environments where speed at the checkout is essential. Without Lightning, the latency of base-layer Bitcoin settlement would make it unsuitable for high-volume, low-friction point-of-sale scenarios, where customers and merchants alike expect payment confirmation within seconds rather than minutes.
One of the feature's notable characteristics is the absence of chargebacks. Because Bitcoin transactions on the Lightning Network are irreversible by design, merchants do not face the risk of disputed charges being reversed after the sale has been completed — a persistent friction point with card payments that can affect small businesses disproportionately and create administrative burden alongside financial loss. For merchants with thin margins, the elimination of chargeback exposure is a commercially meaningful benefit.
EARLY ADOPTION ALREADY BUILDING MOMENTUM
Square said that since it first introduced its earlier Bitcoin Conversions feature, sellers had collectively accrued 142 bitcoin through the service. That figure provides concrete evidence of an existing base of sellers already engaging with Bitcoin through Square's platform, and the company positioned the full Bitcoin Payments launch as a natural extension of that earlier, more limited capability rather than a wholly new direction. The accumulated holdings also demonstrate that some merchants have already developed a preference for retaining cryptocurrency proceeds rather than converting them immediately to dollars.
The zero-fee period running to 2027 is designed to lower the barrier for merchants considering cryptocurrency acceptance for the first time. By removing processing costs during the introductory window, Square is seeking to build merchant familiarity with Bitcoin settlement before the fee structure comes under review. The company has not publicly indicated what rates will apply once the promotional period concludes, but the zero-fee offer gives sellers a risk-free window to evaluate customer uptake, assess operational impact and decide whether to make Bitcoin acceptance a permanent part of their checkout experience before committing to a longer-term approach.