Google May Introduce Bitcoin on New Payment System

Google and Square announced Thursday that they were working on new payment systems that would be able to accept Bitcoin. The move is expected to heat things up in the payments market in general, and with Apple Pay, in particular. Google is currently testing the new payment processing method that will be known as Plaso while Square is working on the hardware terminals.

The Square terminal is in the shape of a tablet that will run the Android system. Currently, Square has a piece of hardware known as the Square Reader that can plug into an iPad. The Square Reader can scan credit cards, and Square had promised in late 2014 that it would add support for end-to-end encryption. The Square Reader is compatible with both iOS and Android.

Google’s move could be a boon to other manufacturers of Android devices. However, the tech giant will need to learn from the mistakes it made with Google Wallet… CONTINUE