Square Enables Bitcoin Checkout for Eligible US Businesses
Eligible US Square merchants can accept Lightning payments and receive dollars by default, with Bitcoin processing fees waived through the end of 2026.
Key Notes
- Eligible US Square businesses can accept Bitcoin through the Lightning Network with dollar settlement by default.
- Bitcoin payment processing is free through December 31, 2026 and is scheduled to cost 1% afterward.
- New York remains excluded and separate sales-to-Bitcoin conversions carry their own fees.
Square lets eligible US businesses accept Bitcoin through the Lightning Network, with payments converted into dollars by default and the option for merchants to keep the proceeds in BTC.
The Block-owned payments platform’s current support guidance says dollar-settled Bitcoin payments are automatically enabled for eligible new US sellers. Businesses and locations in New York remain excluded, and eligibility is assessed automatically and reviewed periodically. Merchants can turn the payment method off in Square Dashboard.
The service follows Block’s May 2025 announcement, which outlined a rollout beginning that year and expanding to eligible sellers during 2026. Square’s present support pages describe how the live feature works and which businesses can use it.
Lightning Payments With Dollar Settlement
At checkout, a seller selects Bitcoin and displays a payment QR code. The customer scans it using Cash App or another Lightning-enabled wallet. Prices remain based on the dollar value of the goods or services, while Square handles the exchange-rate calculation.
For merchants settling in dollars, Square converts the customer’s Bitcoin immediately. Sellers choosing BTC settlement receive the cryptocurrency instead. Transactions appear in Square Dashboard and the merchant’s sales reporting.
Tap payments require a second-generation Square Register and a compatible Lightning wallet. Square says Bitcoin NFC payments are not available on Square Terminal, Square Stand or mobile devices. On supported Registers, buyers can also select Bitcoin directly on the customer-facing display. The QR-code checkout flow is a separate way to pay.
Zero Processing Fees Through 2026
Square’s Bitcoin page lists zero Bitcoin payment-processing fees through December 31, 2026, followed by a flat 1% fee. That applies to payments received as either BTC or automatically converted dollars.
The point-of-sale flow has limits: Square’s support documentation caps an individual transaction at the Bitcoin equivalent of $600 and total daily payments at $20,000. These are the limits for that checkout product, rather than every Bitcoin service Square offers.
Bitcoin payments also differ from card transactions after a sale. Square does not provide chargeback handling for them, and its customer refund process uses Square gift cards instead of reversing the original Bitcoin payment.
Accepting Bitcoin and Buying Bitcoin Are Separate
Square also offers an optional sales conversion feature that allocates up to 50% of eligible daily sales to Bitcoin purchases. That lets a business accumulate BTC from conventional payment revenue, even when its customers did not pay in cryptocurrency.
The selected allocation is converted once daily and has a separate fee schedule. The temporary zero-fee offer for accepting Bitcoin payments does not make those investment conversions free.
Other crypto-commerce products, including stablecoin-funded cards, convert digital balances before a conventional merchant payment. Square integrates a Lightning payment option into the merchant’s checkout, while allowing the business to continue receiving dollars.
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