Square Unveils 3% Bitcoin Rewards for Credit Card Holders
Key Summary
Square Credit Card holders will soon be able to earn 3% back in Bitcoin on their purchases, building on the company's existing Bitcoin features, including zero-fee merchant Bitcoin payments and a consumer promotion that offers 5% back in Bitcoin on purchases made at Square merchants until December 31, 2026.
What Block is rolling out
The core change is simple. Instead of only taking rewards as dollars, Square Credit Card users will reportedly be able to receive 3% cash back paid in Bitcoin. Block has not yet published the full terms. Eligibility rules, timing and the exact mechanics of how the Bitcoin gets delivered are still to come.The card itself just went through a makeover
In August 2026, Square redesigned the product to offer unlimited 3% cash back on Square Bill Pay transactions and 1.5% back on everything else.Options for redeeming rewards
Under that structure, cardholders can redeem rewards in a few ways. Options include cash deposits, statement credits, or fee-free processing, and the card runs on the American Express network.Part of a bigger Bitcoin playbook
This is not Block’s first attempt to wire Bitcoin into Square’s merchant ecosystem. Throughout 2025 and 2026, the company, led by co-founder Jack Dorsey, has shipped a steady stream of Bitcoin features.Starting in late 2025, Block rolled out Bitcoin acceptance tools for millions of merchants.
Merchants can also automatically convert a portion of their card sales into Bitcoin.On the consumer side, Cash App runs its own promotion.
Users can earn 5% back in Bitcoin on purchases made at Square merchants until December 31, 2026, capped at $30 per month.Why the timing matters
The August redesign set the table. With 3% unlimited cash back on Bill Pay and 1.5% elsewhere, Square had already built a rewards structure designed to keep business spending inside its ecosystem.Adding Bitcoin as a payout gives Block a way to differentiate the card.
Plenty of business cards offer cash back, but few let small business owners quietly build a Bitcoin position through routine expenses like vendor bills.
What this means for merchants and the market
That volatility cuts both ways. A cash-back reward paid in Bitcoin can be worth more or less than its dollar equivalent depending on when it is redeemed and held.The first is the fine print: eligibility, rollout timing, and whether the 3% Bitcoin rate carries the same conditions as the existing cash rewards.
The second is the calendar. Both the zero-fee merchant Bitcoin payments and the 5% Cash App promotion are tied to 2026, so what Block does with those incentives after December 31, 2026 will say a lot about how permanent this push really is.