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The bottom line is that this isn't a real problem for legitimate businesses. If you're a business owner who's been shut out of the western banking system then y

• slfnflctd 8y ago
  There have been numerous, widely varied reports of legitimate businesses having their funds completely frozen for an unspecified amount of time - often long enough to sink a fledgling startup - simply because they were new and "made too much money too fast". Payment processors have also been known to discriminate against perfectly legal businesses for a long list of random things some old jackass in a suit decided were too 'unsavory'. I think these organizations are wrong to meddle so much rather than being passive facilitators as originally envisioned. They have a right to exclude things which put their assets at risk, as well as a legal obligation to assist law enforcement where appropriate, but beyond that neutrality and privacy should be the rule.
  • vkou 8y ago
    > Payment processors have also been known to discriminate against perfectly legal businesses for a long list of random things some old jackass in a suit decided were too 'unsavory'. Typically, it's because of fraud, not unsavory-ness. Fraud on the customer's side, not the business'. The solution to that is not making every transaction put the weight of fraud solely on the customer.