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> we had a client deplatformed by them because their bank had problems with the product. (In our case, specifically, adult toys.) What kind of bank would do th
by Hackbraten 7y ago
> we had a client deplatformed by them because their bank had problems with the product. (In our case, specifically, adult toys.)
What kind of bank would do that, and why?
I don’t comprehend the logic that would drive such a decision.
- sdan 7y agoWait until you hear about what PayPal stops.
- iso947 7y agoPayPal isn’t a bank and is known for that behaviour. I understand Wells Fargo is a bank.
- cies 7y ago> PayPal isn’t a bank They are: https://www.quora.com/How-can-PayPal-function-without-a-banking-license/answer/Julio-Vittel https://www.quora.com/How-can-PayPal-function-without-a-bank... In the EU you either work with a bank or you need to be a bank to do what Paypal does. In the US not (yet).
- iso947 7y agoIn the US, are PayPal registered as a bank in the same way Wells Fargo are?
- cies 7y agoIn EU they are. Dunno about the states. In the beginning they were not, that I know. But by now... I heard that even Google and Apple were interested in becoming banks (not sure if they followed up on that).
- faeyanpiraat 7y agoSome specific product/service categories have higher rates of fraud and/or other problems, and it just does not worth it for them.
- Hackbraten 7y agoGood point. It still makes zero sense for me why more fraud would happen specifically at adult toy stores compared to other categories. I just don’t get how banks make their decisions. Mine declined my credit card when I tried to add it to Patreon. I called the bank and the rep told me that online subscriptions can be fraudulent and that a bank needed to protect its customers. I told her Patreon was certainly not a scam site. She replied that she’d never even heard of Patreon and that she wasn’t going to white-list Patreon for me and “jeopardize tens of thousands of other customers.” I feel I’m never going to get behind banks.