In store bitcoin payments may get a boost as Square creating register accepting Bitcoin and Apple Pay

Square is reportedly creating a point of sale solution that would accept Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and Apple Pay.

Currently, physical merchants who want to accept Bitcoin are limited to customized solutions. Square's point of sale solution is already quite common. A Bitcoin-enabled version, adopted en masse, would substantially expand the options available to consumers looking to pay with digital currency. A Square spokesman said, “Square sellers should never have to miss out on a sale. They should be able to accept any form of payment.”

Square's register solution is better known for supporting credit cards. In supporting Bitcoin, merchants can realize a potential savings of 1-3% on fees. Apple Pay offers some security improvements, although it has been argued that savings in fees are unlikely.

The arrival date has yet to be announced.

Square CEO Jack Dorsey told the CBC:

“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 they can accept any form of payment that comes across the counter including future ones and burgeoning ones like Apple Pay.”

Square's other product line, its online storefront Square Market, began supporting Bitcoin earlier this year.