If they buy Square, they'll be 30% of the way there with the infrastructure along with market penetration. Make the Square app a native app, and change it's name to iPay and you're golden. Also... no more dividends.
They would have to compete at microtransaction rates to hang with Paypal or Amazon outside the native appstore probably unless they tack on some digital content/storage costs to get 10-30%, i.e. iCloud surcharge.
