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What right/control to my company + website does Square obtain after signing up for their services?

I am curious as to what square has access to as well as the control over the company and website which they (Square) are being implemented to help. I was stuck reading the authorize pop-up while I was in the process of starting to use Square for my own site. I was very wary to click allow to move on just from some of the things I would be granting permission. These include "Modify my item library" then beneath to explain was "allows adding or changing items, prices, and discount".., or "Create payments and refunds" followed beneath with "Allows application to take payments and refund payments on your behalf". The last one that bothered me was "Allow payments with additional recipients"this was followed with "Allow developer of this application to deduct a portion of each transaction amount". So my question is to understand what Square, this payment processor we would like to go with, is given permission to do to my company and website if we were to go thru with this selection. Is there some sort of authority or control that would be gained? Thank you for your time and I look forward to hearing back soon.

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Super Seller

Basically, anything you want Square to do it needs permission for.  Like the last one is so they can deduct their percentage of the payment for the service fee, as 97.25% will go to you as one recipient and 2.75% will go to Square as a second recipient.  The app or dashboard needs permission to modify prices because that is how you change the prices and Square needs to be able to do that.  Square is taking the payments for you on your behalf because you don't have a credit card account to process cards Square does and you are giving them permission to take the information gathered and process the payment for you.

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