Bitcoin News Today: Block Introduces Direct Bitcoin Payments for Merchants Cutting Credit Card Fees from 1.5-3.5% and Boosting Adoption

Jack Dorsey’s Block, the former Square, is reportedly preparing to roll out a feature that will enable merchants to accept Bitcoin payments directly, bypassing traditional fiat currency conversions. This development, highlighted by the integration of direct Bitcoin acceptance for sellers across its platform, marks a strategic shift in the company’s approach to digital commerce. By streamlining the process, Block aims to position Bitcoin as a practical, real-world payment method while addressing longstanding challenges for businesses and consumers alike.

The initiative represents a departure from conventional payment processing models. Historically, platforms like Square converted cryptocurrency transactions into fiat behind the scenes, leaving merchants with limited exposure to Bitcoin. Now, sellers will have the option to receive Bitcoin directly, potentially reducing intermediary fees and offering greater flexibility. This aligns with Dorsey’s long-standing belief in Bitcoin as a foundational technology for an open, decentralized financial system. The move also reflects broader industry efforts to bridge the gap between crypto innovation and mainstream adoption.

For merchants, the benefits are multifaceted. Direct Bitcoin acceptance could cut transaction costs compared to credit card processing, which typically ranges between 1.5% and 3.5%. Faster settlement times—often within minutes—could also improve cash flow, while the irreversible nature of blockchain transactions minimizes chargeback risks. Additionally, businesses could attract a growing demographic of crypto-savvy customers, expanding their market reach. For Bitcoin holders, the feature enhances the digital asset’s utility beyond speculative investment, encouraging everyday use for goods and services.

However, challenges remain. Bitcoin’s price volatility requires merchants to adopt strategies like instant conversion to fiat to mitigate exposure. Regulatory clarity is another hurdle, as businesses must navigate evolving tax and compliance frameworks. Block’s infrastructure, including tools for seamless integration and security protocols, is expected to address these concerns. The company’s experience with the Cash App and its TBD project—focused on decentralized finance—further underscores its commitment to building a robust Bitcoin ecosystem.

This initiative reinforces Block’s vision of a decentralized financial future. By enabling direct Bitcoin payments, the company is not only expanding its role in crypto adoption but also fostering innovation in traditional commerce. The move signals growing recognition of Bitcoin as a legitimate medium of exchange, potentially accelerating its integration into global markets. For consumers, it offers a tangible way to use digital assets in daily transactions, aligning with Dorsey’s goal of making Bitcoin the “native currency of the internet.”

While the rollout timeline has not been officially confirmed, the initiative highlights Block’s strategic pivot toward Bitcoin-centric solutions. As adoption gains momentum, the platform’s ability to simplify technical complexities and regulatory uncertainties will be critical to its success. For merchants, the key will be evaluating whether their customer base and business model align with the opportunities presented by Bitcoin payments. For the broader market, this development underscores the evolving role of cryptocurrencies in redefining global commerce.