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>> So are you suggesting Visa/MC shouldn’t comply with laws & regulation? Of course Visa/MC should stop payments for illegal activities, but they go after lega
by theturtletalks 4y ago
>> So are you suggesting Visa/MC shouldn’t comply with laws & regulation?
Of course Visa/MC should stop payments for illegal activities, but they go after legal activities as well. That's the issue. If selling adult services or goods is "illegal," then the US law should codify it, not leave it up Visa/MC/processors to decide. And it Visa/MC straight up banned these sort of payments, it wouldn't be an issue, but they play favoritism for some companies and ban others out right. Not to mention, many legal businesses lose payment processing ability without even a reason. They claim that even giving a reason will give violators too much information about their internal security.
The EU is actually building their own payment system to combat this [0] and I really think the US should as well.
0. https://ec.europa.eu/info/law/payment-services-psd-2-directive-eu-2015-2366_en https://ec.europa.eu/info/law/payment-services-psd-2-directi...