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> In many jurisdictions, the electric utility is a private corporation. Is it ok for the power company to turn off power for a business they think is immoral, l
by tchaffee 3y ago
> In many jurisdictions, the electric utility is a private corporation. Is it ok for the power company to turn off power for a business they think is immoral, like, say, a strip club? Obviously it's not; laws prevent that sort of thing
This is due to a physical limitation. Payment processors have no such physical limitation.
> I would argue that payment processors are approaching utility-like levels of essential use in our society,
Correct. And the problem is not that they are utility-like essential. But that they are a near monopoly. There is zero reason for payment processors to be a near monopoly and that's the actual problem that needs fixing.