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Payments should be treated like a public utility services, so that they cannot deny customers or uses that are legal. It is a bad idea to let any private servic
by throwawaysea 5y ago
Payments should be treated like a public utility services, so that they cannot deny customers or uses that are legal. It is a bad idea to let any private service that is so widespread and fundamental to function as a proxy regulator of speech.
This problem was very apparent when Wikileaks faced a payment blockade a decade back (https://www.commondreams.org/news/2012/07/18/wikileaks-breaks-banking-blockade-dares-us-companies-block-again https://www.commondreams.org/news/2012/07/18/wikileaks-break...). We are overdue to reign in Visa and MasterCard, just as we are with giant social media common carriers.
- vineyardmike 5y ago> they cannot deny customers or uses that are legal What about services that are maybe-legal? As I understand, a lot of the sex-related industry (porn, etc) have some issues related to revenge porn, consent, exploitation, etc. Its hard for the payment processor to trust that every transaction is legal. Especially when occasional illegal content slips in.
- foxfluff 5y agoIt shouldn't be their job, and blanket bans on specific subjects because "someone may do something illegal" is prejudice with a lot of collateral. If someone is doing something illegal, it should be the authorities job to deal with it.
- shartacct 5y agoNo they shouldn't. There are high-risk payment processors that will serve foreign intelligence operations like wikileaks, fascist political donation services, fraud-heavy industries like fiat to crypto onramps and socially regressive businesses like porn. There's no need to regulate low-risk payment processors as the industry is not monopolized in any way and it's trivial to find one that will take your money.