Bitcoin, Cryptocurrency And Blockchain News

Survey: Square Inc. Retailers Prefer Payments via Bitcoins


According to a survey by Square Inc. on merchants who use IT services, a greater part of them want to accept payments in Bitcoin rather than cash. The study was conducted by trading services provider Nomura / Instinet – out of 100 retailers in different industries, 60% preferred Bitcoin. 40% of those Bitcoin advocates were between the ages of 31 to 40, as reported by Bloomberg.

Square Inc. Services

Payment processing retail systems built by Square Inc. have attracted many customers including Starbucks and Whole Foods Market. Square wallets, Square Stands and Square Registers were used, however, their deal with Starbucks ended quickly. The company also created the Cash App, which allows you to send money to your friends with cash, and even Bitcoins in some places. Square Inc. now plans to extend this cryptocurrency service everywhere.

“Bitcoin, for us, is not stopping at buying and selling. We do believe that this is a transformational technology for our industry and we want to learn as quickly as possible,” said CEO Jack Dorsey. If the company plans to integrate Bitcoin in their retail payment methods, they already know the result will be beneficial for everyone.

Companies Where You Can Spend Your BTC

Some major companies that accept cryptocurrencies include Overstock, Expedia, Subway, PayPal, Shopify, Microsoft and Pizzaforcoins. Overstock uses the Shapeshift exchange to allow customers to use Bitcoin, Ethereum, Litecoin, Dash and Monero. Expedia has a non-refundable payment method using Bitcoin. PayPal and Shopify only accept Bitcoins for now. Microsoft allows payment via BTC, a decision which was recently resumed by the company. Lastly, Pizzaforcoins accept more than 50 cryptocurrencies, while cash is strictly rejected.

Other companies which allow payments in specific areas and plan to use cryptocurrencies in the future include Playboy, Reddit, Gyft, Wikipedia, Pirate Bay, Zynga, EtsyVendors, Jeffersons Store, Bloomberg, Lionsgate Films, Webjet and Foodler.

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