TKay, can you answer a question for me perhaps? do you know if Square customers will have to specifically go in and enable the ability to pay in bitcoin? and if they do not have to opt-in, how does it work exactly? does the merchant have to tap a button just like cash or credit card and this is enabled by default for all? can i go into an unsuspecting shop and pay with bitcoin and the merchant will essentially have no idea besides noticing a new payment icon?
Discussion
In my square account it required me to opt in and re kyc the business with my ein number. Because the square account is now accepting ₿ and able to convert payments to ₿ square is custody of that corn so they mostblikely?legally need me to provide info.
Many square operators to the spin the terminal thing like in the video. Now the guy obviously new he was making a bitcoin payment and selected that payment type. There ia just a screen with all the payment types: cash, gift card, debit card, "other" for checks ( or how i accept non kyc bitcoin with zeus integrated into my square merchant api) a cash app option and bitcoin. If they spin, nd are opted in, you could just select ₿ as payment type.
Now mny square terminals have loyalty accounts linked with phone number or email so you may or my not wnt to link your ₿ payment with your loyalty.
We don't spin the terminal normally and aways take peoples cards because I think self checkout is rude especiallybif you haven't used square before.
My staff will be saying "are you saving 21% off today by paying with Bitcoin?" To get the people riled up!
Excellent answer, here’s our official page with an FAQ that also answers your questions. You have to scroll a bit to get to the FAQ.
i read all of that last week and didn't know if merchants had to specifically opt-in. it sounds like they do and i understand why. i will be completely surprised if merchants do this, unless they themselves are bitcoiners. i hope im wrong.
Oooo I'm loving that "are you saving 21% by paying with bitcoin" pitch 🤟🏽
Gotta make it spicy 🔥
thank you for your detailed answer. i was hoping to pay with bitcoin a the places in my town that i frequent, but they're not bitcoiners, so i doubt they'll opt-into bitcoin payments unless there's a clear marketing campaign and advantage for them.
Most obvious benefit is zero transaction fees with bitcoin. They can have 100% fiat conversion.
It’s not live yet. So highly doubt you will find it out and about.
Michael said it’s Opt-in for the merchant, but it’s an easy setup as per Michael.
The merchant as of the test we did, has to tap bitcoin payment.
This is good to know. I've already started making a list of merchants in my area that use Square. Some of them have already told me they would accept bitcoin if they could. This is much easier than convincing people to use coinos or BTCpayServer.
Back on Sept 3rd when they turned mine on, I was closing and reopening the app like every 5 minutes because I was so excited for it to come online, then around 10 am it just appeared under cash and other options like a golden halo 😇🔥🎯