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You don't need a business license or anything to get one, setup is super simple.
I'm less sure on the disputes though. I think the credit company would probably just refund their costumer, the way Square, etc are setup, I believe it is much harder for them to just take the funds back from you? PayPal can freeze or return money still in the PayPal account when a dispute is started if they choose to but can't do a great deal if the seller has already taken that money out somehow, spent it, moved it to their own bank account, etc.
Square deposits it straight into your checking account and once it's in your account, I believe it is illegal for an entity, even one that is setup to deposit or remove funds from your account on a scheduled basis, to do it without your authorization. That's how I understand it, anyway. Could be wrong about some of that and I'm really unsure what a credit card company could do for recourse as I've only had Square a little while and have never had a dispute against me in five years of using PayPal.
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