Block CEO Jack Dorsey says the company has 'great expectations' for the upcoming..

Block Inc. (NYSE:SQ) CEO Jack Dorsey said Thursday that the company has high hopes for the upcoming launch of Bitcoin (CRYPTO: BTC) payments on its Square point-of-sale system.

Dorsey said the company is "excited" about the prospect.
During Block's third-quarter earnings call, Dorsey said the company is "very excited" about its launch next week.

“It's going to be available to everyone, and they just have to make a simple switch in their settings, and they'll be able to start accepting Bitcoin,” he added. “We have a lot of hope for this.”

Dorsey also revealed that beta merchants are testing the feature and found it "very easy" to use.

According to him, the challenge is to make people "comfortable with paying with Bitcoin."

“We're going to look for every opportunity to both educate all of our sellers on why accepting Bitcoin is the best option and why buyers would want to use it as well,” he emphasized.

Is this a major change?

Under this feature, announced last month, merchants will be able to accept Bitcoin payments without any processing fees until 2027. Additionally, a "conversion" feature will enable them to convert a portion of card sales into Bitcoin. This feature is scheduled to launch on Monday.

The company also unveiled a native wallet that will allow sellers to manage their Bitcoin holdings, including buy, sell, hold, and withdrawal options.

Block's Earnings and Revenue Fall Short of Expectations
Meanwhile, Block's third-quarter earnings fell short of analysts' estimates. The company reported earnings of 54 cents per share, below the consensus estimate of 67 cents.

Similarly, quarterly revenue came in at $6.11 billion, below market estimates of $6.312 billion.

In the third quarter, gross payment volume from its Square POS business increased 12% year-over-year.