5 ms·
Next week: Pornhub starts it's own payment processing network
by justaguy88 6y ago
Next week: Pornhub starts it's own payment processing network
- redis_mlc 6y agoI've worked in payments, and it's tough. You would need to be a merchant bank (ODFI) to control ACH payment access, and the US govt. doesn't normally grant banking charters any more, as all the YC batches have learned the hard way. So you'd have to buy an existing bank. But Visa and Mastercard still wouldn't process cc payments.
- solarkraft 6y agoI think this is very close to what they're planning to do. Maybe they'll do something with crypto, but more likely they'll give people some in-house currency (PornBucks) that are spendable on the Mindgeek network. Maybe the big 2 processors would be okay with that again (they seem to still have hope), but it'd also be perfectly doable through wire transfers. Heck, if they have the ambition they could expand from there.
- fpalmans 6y agoWouldn't that just move the problem from dealing with visa and mastercard to dealing with the banking sector? Isn't it challenging for, amongst others, adult entertainers, the legal marijuana industry and bitcoin/crypto currency businesses to maintain stable banking relationships?