Square’s Bitcoin Payment Rollout Nears November 10 Finish

By Nathan Brooks

Square expects its phased rollout of Bitcoin (BTC) payments for eligible U.S. sellers to finish Nov. 10, following the March 30 start of automatic activation for qualifying sellers. The expansion takes place within Square's network of more than 4 million merchants, but that network total does not identify how many merchants qualify for Bitcoin or ultimately accept it.

Rollout scope and limits

Square began the rollout on March 30 by automatically enabling Bitcoin payments for qualifying sellers, without requiring a merchant to request access. The change removes an access-request step for eligible businesses, while leaving the rollout subject to seller eligibility.

The Nov. 10 target marks the expected completion of that phased rollout, not universal Bitcoin acceptance across every merchant in Square's network.

No eligible-seller count, enrollment total or Bitcoin-acceptance rate accompanies the rollout information. Consequently, the more than 4 million merchant figure supplies scale for the broader checkout network, but not a measure of live Bitcoin demand. The distinction prevents the rollout target from being read as an adoption forecast.

At checkout, customers can pay through the Lightning Network. Eligible sellers receive U.S. dollars by default when a customer pays through Lightning, though they can choose to receive Bitcoin instead.

The structure separates the customer's payment rail from the seller's settlement choice. Sellers retain dollar settlement unless they elect BTC, while customers gain a Bitcoin payment option at the point of sale.

What does this change for merchants?

The practical change is lower activation friction for eligible U.S. sellers and a broader set of checkout choices for customers. Square handles the rollout through automatic enabling rather than seller-initiated access, so participating merchants do not need to complete a request before Bitcoin becomes available in their checkout flow.

Square also allows sellers to automatically convert up to 50% of daily sales revenue into Bitcoin. At the maximum, the cap means 5 of every 10 dollars in daily sales can be routed into BTC through that feature, while the remaining half stays outside that automatic conversion.

This conversion control is distinct from settlement denomination. A seller can keep U.S.-dollar settlement as the default while using automatic conversion for part of daily revenue, or elect to receive Bitcoin directly. The first route keeps settlement in dollars before any automatic conversion; the second makes the payment settlement itself BTC-denominated.

For sellers selecting BTC settlement, the change introduces asset-price exposure into proceeds that would otherwise remain dollar-denominated. Merchants retaining dollar settlement do not take that settlement exposure, although they can still choose to acquire Bitcoin through the separate conversion feature.

Fees and operating horizon

Bitcoin payment processing carries no fee through Dec. 31, 2026. A fixed 1% processing fee is expected to apply after that date. For a seller processing $100 in Bitcoin payments, that rate translates into $1 in fees, turning the expected later pricing change into a direct adjustment to payment economics.

The two dates address different operational questions. Nov. 10 concerns the completion of the merchant rollout and the availability of Bitcoin checkout for eligible sellers. Dec. 31, 2026 concerns the end of fee-free Bitcoin payment processing. Merchants evaluating the service can separate product-access timing from the later pricing change.

The next checkpoint

• March 30: Square began automatically enabling Bitcoin payments for qualifying U.S. sellers.
• Nov. 10: Square expects the phased rollout to finish.
• More than 4 million merchants: Square's broader network, not the eligible or accepting count.
• Up to 50%: Daily sales revenue eligible for automatic conversion into Bitcoin.
• Dec. 31, 2026: Bitcoin payment processing remains fee-free; a fixed 1% fee is expected afterward.

If the schedule holds, Nov. 10 becomes the product-availability checkpoint for eligible U.S. sellers, while Dec. 31, 2026 remains the stated end date for fee-free Bitcoin payment processing and the point after which the fixed 1% fee is expected to apply.