4 ms·
Why isn’t it viable to just accept Visa, if only MasterCard has new rules? Does not seem to justify scrapping the entire business.
by highfrequency 5y ago
Why isn’t it viable to just accept Visa, if only MasterCard has new rules? Does not seem to justify scrapping the entire business.
- dageshi 5y agoThey expect VISA will follow suit.
- Aachen 5y agoSource? Or are you just assuming?
- altendo 5y agoI believe that it's an assumption for now, but a reasonable one to make. I think it's unlikely that Visa exposes itself to legal risks where MasterCard is not - why give your competitor an edge like that?
- amanaplanacanal 5y agoThat assumes that there actually are legal risks, and that there isn’t more money to be made by continuing to process these payments.
- dageshi 5y agoFor Mastercard and Visa the money to be made is a rounding error on a rounding error, there are lots of other industries that don't have the same PR risks as adult content does.
- micromacrofoot 5y agoThere's a fair amount of precedent. Recently it's what happened to pornhub... these evangelical groups put general pressure on the industry and when one company folds the focus on the others ramp up. Mastercard and Visa compete pretty closely so neither wants to be "the one that's ok with sex trafficking" (total bs, but how it's framed) and end up with more regulatory scrutiny than the other.
- icegreentea2 5y agoMost news sites speculate that Visa is likely to follow. OF probably has industry connections that are giving them a heads up. It's in Visa's PR interest for these high visibility events (like OF's ToS Change) to happen before Visa announces their ToS changes.
- busymom0 5y agoProbably because visa will be enforcing similar to rules soon too.