I saw this limitation with EMV a few years ago, it concerned me that they wouldn't be able to move into EMV markets quick enough, and we already have PayPal, iZettle and a few other smaller companies in the UK and Europe supporting EMV cards.

However, I then spoke to an ex-Square employee, one of the very early members of the team, and he told me that they weren't concerned at all about it, they had much bigger plans. I was skeptical, but I think Square Cash might be one of the elements of this bigger plan.