what this could mean for Square is that since there is no security in practice one could argue they should pay the higher fees applicable to card-not-present tr

what this could mean for Square is that since there is no security in practice one could argue they should pay the higher fees applicable to card-not-present transactions or where the number has been entered manually rather than the typically lower rates with verified card presence. in practice it will boil down to how much VISA/MC like Square. i cannot imagine they see this expansion of CC billing to a new kind of merchants as a bad thing.