Square CEO Jack Dorsey recently said the company's register service will eventually accept all forms of payment, including bitcoin and Apple Pay.

"We're building a register so that sellers can accept a credit card, so they can accept cash, so they can accept a cheque, so they can accept Bitcoin and so they can accept any form of payment that comes across the counter including future ones and burgeoning ones like Apple Pay," Dorsey told CBC News in Canada earlier this month when Square opened a new office in Ontario. Bank Innovation was the first U.S. publication to discover the story. 

Dorsey said Apple Pay is not competition since that system enables payments while Square accepts them (a distinction the mainstream media finds difficult to grasp). 

"It's not a threat because ... we don't build a credit card, we don't build a payment device at all," Dorsey said.