3 ms·
I support regulations that would make it difficult for payment processors like PayPal/Stripe to cut off companies without due process (ideally, third party due
by mywittyname 4y ago
I support regulations that would make it difficult for payment processors like PayPal/Stripe to cut off companies without due process (ideally, third party due process).
The reasons behind all of the bans listed in this article are all one-sided pure conjecture. A skepticism I've developed after interacting with "they hate me for my freedom" types is that they are often omitting key details in an effort to make themselves look like the victims. It's likely they all know exactly why they were banned, but divulging such matters would make them look bad.
I wish the author would have done more due diligence on their part and uncover the actual likely reasoning behind the bans. Some of the best investigative journalism is done when you let your subject tell their side, then confront them with facts that are counter to their claims.
PayPal's poor transparency around how they cut companies off is bad. But it can be the case that each of these people interviewed are also bad and would have been cut off if there were better regulations and transparency around how PayPal operates.
- xupybd 4y agoWhile I agree that the article doesn't do well to expose the reasons behind these bans. I think transparency and due process are the correct things to focus on. If we had both articles like this could not exist.
- yucky 4y agoOne thing to keep in mind is that Paypal and Stripe are Payment Facilitators, not payment processors. You do not have your own merchant account when you use them, you exist as a sub id on their master merchant account. I suspect this is why the rules are different than what you would see with an actual merchant account through a bank.