Mobile Payments Giant Square Introduces 'Pay with Bitcoin' Option on Square Market
San Francisco-based mobile point-of-sale (mPOS) solution provider Square has announced that merchants will now be able to sell goods and services for bitcoin via its Square Market. Introduced in June 2013, the Square Market is an online website that features Square retailers in a centralized location not unlike eBay or Etsy. Square Merchants are not charged for listing items on the marketplace, but pay 2.75% for each sale for payments made with traditional payment options. Wrote the company on its official blog: "Making commerce easy means creating easy ways to exchange value for....
Related News
Square has indicated that it will send dollar payments from Coinbase bitcoin transactions directly to its merchants. San Francisco-based mobile point-of-sale (mPOS) giant Square sent a jolt of excitement through the bitcoin ecosystem when it announced that it would allow users to pay for goods and services with the digital currency via its online marketplace, Square Market. With a valuation of $5bn, Square is already a giant in the payments space despite its relative newcomer status. Founded in 2009, it's backed by millions in venture capital investment and a star executive, Twitter....
Square CEO Jack Dorsey has issued new statements suggesting that the mobile payments giant may seek to add bitcoin to its Register product. Dorsey's comments came in an interview with the CBC, in which he was asked for his response to the introduction of Apple Pay to the mobile payments market. Noting that Square offers a terminal product that can accept a variety of payment methods, including Apple Pay, Dorsey told the media outlet: "We're building a register so that sellers can accept a credit card, so they can accept cash, so they can accept a cheque, so they can accept bitcoin and so....
Google and Square announced Thursday that they were working on new payment systems that would be able to accept Bitcoin. The move is expected to heat things up in the payments market in general, and with Apple Pay, in particular. Google is currently testing the new payment processing method that will be known as Plaso while Square is working on the hardware terminals. The Square terminal is in the shape of a tablet that will run the Android system. Currently, Square has a piece of hardware known as the Square Reader that can plug into an iPad. The Square Reader can scan credit cards, and....
Square's adoption of Bitcoin could lead to Bitcoin use at Whole Foods and Starbucks. Although many Bitcoin enthusiasts have been looking for new merchants who are directly accepting the cryptocurrency in their local towns, it seems that a move from Square could end up being an even bigger deal. Square announced their integration with Bitcoin today on their blog, and they revealed a few details about how their new Bitcoin-enhanced system is going to work. Most online retailers are not going to notice much of a change, except for the fact that they could have a new crowd of Bitcoin customers....
Last week, Square made mainstream headlines when it was revealed that the firm had bought Bitcoin — $50 million worth of the cryptocurrency. Square is a financial technology giant valued at around $80 billion, though the $50 million was only approximately 1% of its assets. Square wasn’t the first company to do so. The month […]