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By definition, if you don't do what VISA is doing, the regulatory state will declare you an illegal payment processor. Like it or not, part of the baggage of d
by salawat 4y ago
By definition, if you don't do what VISA is doing, the regulatory state will declare you an illegal payment processor.
Like it or not, part of the baggage of doing that service is being an extension of the long arm of the law.
So "rolling your own" minus the regulatory baggage you don't like, isn't per se "making your own payment processor", but something else.
Bit of a Catch-22, but how it works. Everyone just tends to leave the quiet part unsaid.
- joyfylbanana 4y agoPornhub is committing the crime here. Visa was just processing payments here - and isn't any more, since they stopped it. Why isn't everyone talking about pornhub and demanding them to ban that? Pornhub essentially is already their own payment processor, as it looks like they are processing cryptocurrency payments from the customers.
- HeyItsMatt 4y agoThe state is saying Visa is committing the crime. The states media cheerleaders are squawking it to all that will listen. If Visa loses, payment processors have little choice but to remove processing from sites that allow user generated content, including Reddit. They are legally responsible for all under-18 content, and as "Big Evil Corporations" they have no support from anyone in the community that matters. The EU and UK is even worse in this regard, so no anonymous commercial social networks will ever be created again.