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Bitcoin News Today: Square’s No-Fee Bitcoin Initiative Prompts Payments Sector to Reevaluate

Bitcoin News Today: Square’s No-Fee Bitcoin Initiative Prompts Payments Sector to Reevaluate

Bitget-RWA2025/11/12 16:15
By:Bitget-RWA

- Square introduces zero-fee Bitcoin payments for merchants until 2027, challenging traditional credit card networks. - The initiative enables fiat-to-Bitcoin conversions and cross-border transactions, positioning Bitcoin as a functional currency. - Industry observers highlight cost savings for small businesses, with Bitcoin fees undercutting 1%-4% credit card rates, while competitors like Visa face regulatory pressures.

Square Eliminates Fees for Bitcoin

Transactions, Prompting Industry Response

Jack Dorsey’s Square has introduced a Bitcoin payment option for its network of 4 million merchants worldwide, waiving transaction fees until 2027. This move stands in sharp contrast to the 1.5%-4% fees that credit card companies usually impose, according to

. Announced in mid-November, this feature enables businesses to process Bitcoin-to-Bitcoin, Bitcoin-to-fiat, fiat-to-Bitcoin, and fiat-to-fiat payments via Square’s point-of-sale platform, as reported by . After years of development, this launch is seen as a significant step in Bitcoin’s evolution from a speculative investment to a practical payment method.

By removing fees, Square aims to speed up Bitcoin’s integration into mainstream commerce. The company’s Bitcoin payment service, already available in the U.S., France, the U.K., and Japan, now lets merchants convert a share of their daily card revenue into Bitcoin—a capability added in October 2025, according to Cointelegraph. “This is more than just making things easier—it’s about changing how businesses view money,” Dorsey shared on X. Early users, such as Texas-based coffee company Medici, have already adopted the service, as Cointelegraph noted.

Bitcoin News Today: Square’s No-Fee Bitcoin Initiative Prompts Payments Sector to Reevaluate image 0
Square’s decision to suspend fees until 2027 fits with its broader mission to establish Bitcoin as a “working currency,” a vision Dorsey has long championed, as reported by TradingView. Competing with established payment leaders like and , who are reportedly close to a major agreement to lower interchange fees by 0.04%-0.07% over several years, according to , Square’s strategy could push traditional networks to innovate. The Visa-Mastercard deal, which aims to settle a 20-year legal dispute, will also give merchants more power to add surcharges or decline certain cards, as has reported.

Experts in the field point out the cost benefits. With Square’s Bitcoin transactions carrying a 0% fee until 2027, they are much cheaper than the 1%-4% typically charged by credit card processors, Cointelegraph notes. For small businesses, this could translate into substantial savings. “Bitcoin is no longer just a way to store value,” said Parker Lewis, business development lead at Zaprite. “It’s now a tool that helps merchants stay competitive.”

Square’s timing is notable. Bitcoin’s value has surged to $105,000, a 1.74% increase in 24 hours, as TradingView reports. Meanwhile, the Visa-Mastercard settlement highlights the growing pressure to cut costs for merchants, who have long criticized the two companies’ “anti-steering” policies, according to

. If finalized, the new agreement would let merchants encourage customers to use more affordable payment options—a change that could reshape the $10 trillion global payments industry, as reports.

Square’s latest move has also highlighted Bitcoin’s growing role in everyday transactions. By making it easier to use for daily purchases, Square addresses one of the main challenges facing cryptocurrencies: their adoption as a regular payment method. “This is a win for both Bitcoin and small businesses,” said Katie Ananina, CMO of CitizenX, who shared her experience using the feature at a Texas café, as reported by Cointelegraph.

The Bitcoin community has responded with excitement, with many users requesting maps to find merchants that accept Square, according to TradingView. However, some critics remain concerned about issues like scalability and price volatility. For now, Square’s zero-fee approach presents an attractive alternative, especially as established payment networks deal with increasing competition and regulatory scrutiny.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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