Block's payments platform Square has begun gradually enabling bitcoin payments on point-of-sale terminals for some eligible merchants in the United States, Cointelegraph reported on March 30 local time.
The feature will be applied sequentially over the next month and will be activated automatically for eligible merchants without additional settings.
Square's bitcoin payments feature is structured so that merchant settlement is processed in dollars even if payment is made in bitcoin. Miles Suter (마일스 수터), Block's head of bitcoin products, said on X (Twitter) the feature was designed "to make it easier for millions of businesses to accept bitcoin." He said that even if customers pay in bitcoin (BTC), merchants will receive U.S. dollars by default, and can choose to set up automatic stacking of some daily sales into bitcoin.
Square also posted separately, stressing that at the time of payment the amount is immediately converted to cash and no additional settings are required.
The rollout is limited to "eligible sellers in the United States." Square's website says the service is available to sellers that meet verification requirements, but excludes businesses based in New York.
Chi-gyu Hwang
delight@d-today.co.kr