Square Credit Card Reportedly Plans 3% Bitcoin Rewards for Purchases
Square Credit Card holders could soon have the option to earn 3% back in Bitcoin on purchases, according to a report published on October 13, 2026. The reported feature would add cryptocurrency payouts to the card's existing cash-back program as parent company Block Inc. continues expanding Bitcoin services across its payments ecosystem.
The proposed reward option would allow eligible cardholders to receive Bitcoin instead of dollar-based rewards. However, Block has not yet published the complete terms governing the feature, including eligibility requirements, payout timing or how Bitcoin rewards would be delivered.
Square Credit Card Expands Beyond Cash-Back Rewards
The reported Bitcoin option follows a redesign of the Square Credit Card introduced in August 2026. The card operates on the American Express network and currently offers different cash-back rates depending on how customers spend.
Under the existing structure, cardholders can earn unlimited 3% cash back through Square Bill Pay, while other purchases earn 1.5%. Customers can redeem their rewards through cash deposits, statement credits or fee-free payment processing.
Adding Bitcoin as a reward option would give small business owners another way to accumulate the cryptocurrency through routine spending, potentially including payments for vendor bills. The reported 3% Bitcoin rate would be separate from the card's existing dollar-based rewards, although the final conditions have not been disclosed.
Block Expands Bitcoin Services Across Its Payments Network
The potential credit card feature fits into Block's broader strategy of integrating Bitcoin into merchant services and consumer payments. The company, co-founded by Jack Dorsey, has expanded its cryptocurrency offerings throughout 2025 and 2026.
Block began rolling out Bitcoin payment acceptance tools in late 2025, with the initiative reaching millions of merchants. Bitcoin payments are scheduled to remain fee-free through the end of 2026, while merchants can also automatically convert a portion of their card-sales proceeds into Bitcoin.
These merchant services complement the reported Square Credit Card rewards option by extending Bitcoin access across both business transactions and consumer spending. The company has not, however, disclosed whether the new card feature will have conditions similar to its other Bitcoin incentives.
Cash App Offers a Separate Bitcoin Reward Promotion
Block also provides a separate Bitcoin rewards promotion through Cash App. Users can earn 5% back in Bitcoin when making purchases from Square merchants, but the promotion has a monthly reward cap of $30.
The Cash App offer is scheduled to run through December 31, 2026. It is distinct from the reported Square Credit Card feature, which has not yet been accompanied by a complete set of published terms.
Bitcoin Rewards Carry Market Price Risk
Unlike cash-back rewards denominated in dollars, Bitcoin rewards can fluctuate in value after they are received. Their dollar value may rise or fall depending on Bitcoin's market price and whether recipients choose to hold or redeem the cryptocurrency.
Until Block releases the full conditions for the reported feature, important details about eligibility, reward delivery and payout timing remain unclear. The company's existing Bitcoin incentives have defined time limits: merchant payments are scheduled to remain fee-free through 2026, and the separate Cash App promotion ends on December 31, 2026.
data source:en.cryptonomist.ch
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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