Square enables first bitcoin payment at a US coffee chain
ChainCatcher news, according to Decrypt, this week a coffee shop in Washington, D.C. became the world's first merchant to accept bitcoin payments through a Square point-of-sale terminal.
Compass Coffee, a popular chain coffee shop in Washington, D.C. with 27 locations, showcased this new technology during "DC Fintech Week," allowing customers to use the Lightning Network to pay with bitcoin for coffee via a standard Square register. This pilot is the first real-world deployment of the new bitcoin payment system announced last Wednesday by Block, the parent company of Square. Starting from November 10, merchants will be able to accept bitcoin payments and convert up to 50% of daily sales into bitcoin, with zero fees for the first year.
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