The title of this link is a little misleading. If I read it correctly, the patent is actually about ad-hoc pairing of roaming devices that previously couldn't accept certain types of operations because of security regulations (i.e. PIN transactions) with terminals that can accept them. So, sales droid is on the shop floor with an iPhone, customer needs to enter a PIN to pay, sales droid can pair their iPhone with an available terminal somewhere in the store and use their iPhone essentially as a proxy to the authorised device. I don't think this would affect Square, for example.
<i>fullon snark</i><p>Does anybody remember: Up to a couple years ago, the Apple stores used to use Windows CE devices to process card sales.<p>edit: not sure they were CE, but definitely MS Windows based, and if you asked to look at it closer, the associate would generally say they were really busy and walk away.
the number of patents that apple has on things that, to me, seem generic enough to generate good competition and innovation is astounding. and depressing.