Square’s Bitcoin rewards will reportedly let Square Credit Card holders earn 3% back in Bitcoin on purchases, adding a cryptocurrency payout option to business spending. Reports surfaced on October 13, 2026, extending parent company Block Inc.’s effort to bring Bitcoin into everyday merchant and consumer payments.
Key takeaways
- Square Credit Card is set to add a 3% Bitcoin reward option.
- Existing cash rewards pay different rates for Bill Pay and other spending.
- Cash App’s separate Bitcoin promotion has a $30 monthly cap.
According to Crypto Briefing, the Bitcoin option follows the card’s August 2026 redesign and a broader rollout of Bitcoin tools across Block’s payment services. The report says the addition would give cardholders another way to receive rewards beyond dollar-based redemptions.
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The new option would pay purchase rewards in Bitcoin at a reported 3% rate. The Square Credit Card operates on the American Express network and already offers cash-back rewards under its redesigned structure.
Since August 2026, cardholders have been able to earn unlimited 3% cash back through Square Bill Pay, while other purchases earn 1.5%. Existing redemption choices include cash deposits, credits against card statements and payment processing without fees.
The report frames Bitcoin payouts as a way for Block to distinguish the card and let small business owners accumulate Bitcoin through ordinary expenses, including vendor bills.
Block links merchant tools with consumer incentives
Block’s Bitcoin integration extends beyond credit card rewards to merchant acceptance, sales conversion and Cash App spending. The company, led by co-founder Jack Dorsey, introduced Bitcoin features throughout 2025 and 2026.
Its rollout of acceptance tools began in late 2025, reaching millions of merchants. Bitcoin payments carry zero fees through 2026, and merchants can automatically convert some of their card-sales proceeds into Bitcoin.
Cash App also offers users 5% back in Bitcoin when they buy from Square merchants. That separate promotion limits rewards to $30 per month and runs until December 31, 2026.
Reward conditions and Bitcoin’s changing value
Block has not published the complete terms for the Bitcoin option, including eligibility, payout timing and delivery mechanics. The report does not establish that Square’s Bitcoin rewards will follow the same conditions as the existing cash-back rates.
A Bitcoin-denominated reward can also change in dollar value. As the report notes, the amount can be worth more or less depending on Bitcoin’s price and when the recipient redeems or holds it.
The two existing Bitcoin incentives have stated calendar limits: merchant payments remain fee-free through 2026, and Cash App’s 5% promotion ends on December 31, 2026.
Article produced with the assistance of artificial intelligence and reviewed by the editorial team.
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