Block Enables No-Fee Bitcoin Payments via Square Globally

Block’s Square platform now supports Lightning Network Bitcoin payments at 4 million merchants worldwide, with zero fees until 2027 and optional automatic conversions.

BTC

Summary

Block announced that its Square platform now supports Bitcoin payments at 4 million merchants globally via the Lightning Network, enabling instant transactions with no fees until 2027. Merchants can opt for automatic Bitcoin-to-fiat conversions. The integration expands Square’s point-of-sale capabilities to include rapid, cost-free crypto transactions.

Terms & Concepts
  • Bitcoin payments: Transactions conducted using Bitcoin as the medium of exchange for goods or services.
  • Point-of-sale (POS) platform: A system that enables merchants to process customer payments at the time and location of the sale.
  • Lightning Network: A secondary layer on the Bitcoin blockchain that enables faster, lower-cost transactions by processing them off-chain.