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Net... uhm.. payment-processors-neutrality! I have no idea why payment processors get to choose and pick what they want to process and what they don't.
by ajsnigrutin 5y ago
Net... uhm.. payment-processors-neutrality!
I have no idea why payment processors get to choose and pick what they want to process and what they don't.
- mchusma 5y agoThis. If you are going to be a legal dualolopy, then you can't cut off payments like you can't cut off power or water. Personally I breaking thei anti-trust behavior entirely, so people have options.
- WrtCdEvrydy 5y agoIt's the high chargeback rate.
- detaro 5y agoThat's always the excuse why the payment processors don't like it (payment networks will ban them if their customers cause to many chargebacks), but the payment networks themselves clearly have control over those rules and can put requirements in place to compensate (e.g. require insurance, delay payouts, ...) without full-on banning business types.
- AuryGlenz 5y agoThey could simply automatically raise fees depending on chargeback rate. It’s not a particularly hard problem to solve.
- aembleton 5y agoDon't they pass the costs of the charge back onto their merchants?
- cblconfederate 5y agoNever gonna happen. Controlling the money flow is basically how power has always worked. Unless you have nukes, you can't enforce it
- ajsnigrutin 5y ago...and then they wonder why cryptocurrencies are getting more and more popular.
- optimalsolver 5y ago...and more and more centralized.
- ajsnigrutin 5y agoatleast the barrier of entry for a new cryptocurrency is very cheap, compared to opening a new bank.
- lazide 5y agoThe underlying mentality behind [https://en.wikipedia.org/wiki/Operation_Choke_Point https://en.wikipedia.org/wiki/Operation_Choke_Point] is why.