Nostr Web Client

For payments specifically? That’ll be generally available on Nov. 10 but here’s what to expect:

Go into Payment Settings in the Square app and you’ll see a new row for Bitcoin with an Activate button next to it.

We do a bunch of eligibility checks so activation will be quicker for some than others (depending on your business structure, geolocation, 2FA status, etc)

But everyone will have the option to choose USD or bitcoin settlement, and another surprise feature we’ll have at launch 👀

We’re looking into ways to auto-on bitcoin payments with USD settlement but as you can imagine it’s challenging from a legal and regulatory perspective.

Separately you can enable payments from Bitcoin onboarding (in Square Banking) where you can also configure your card sale conversions and set up your wallet.

idsera 2mo ago

So the reason to not have Bitcoin payments enabled by default was regulatory? I thought it was because Square would like to know first how many merchants would enable the feature on their own, so they could choose BTC settlement, if they wanted. So after some months, the option to accept Bitcoin payments would be enabled by default to all other merchants using USD settlement.

Reply to this note

Please Login to reply.

Discussion

MT⚡️ 2mo ago

That’s secondary to it. I won’t bore you with the details but because bitcoin is so regulated (with nuances at the state level in some cases), auto-on even as USD is extremely tricky.

We’re working to unlock this as much as possible but it requires taking a very methodical approach that focuses on specific segments at a time.

idsera 2mo ago

Ah ok. I thought for USD settlement, the auto-on would be ok, just needing to approve a new Terms of Service for example. But thanks for the answer.

idsera 2mo ago

If I could give a suggestion:

Please add on https://squareup.com/bitcoin the information of how many % of merchants are accepting Bitcoin Payments in real time, so users could follow the metric.

MT⚡️ 2mo ago

Good suggestion. We can look into this but probably should wait until/if it becomes a meaningful amount 😅

idsera 2mo ago

Haha. I think when be at least more than 10%, make sense show the info.

idsera 2mo ago

To be honest, should show in real time, even is if less than 10%. If is less, means people need to ask more for the merchants to enable it, haha.