OnlyFans shows Visa and MasterCard are 'choke-points' of online speech

Re:OnlyFans shows Visa and MasterCard are 'choke-points' of ... by imtringued on Tuesday August 24, 2021 @03:42AM (#28286045)

What profit incentive exists for payment processors to not accept these sites? Why can't they offer a high risk product where the merchant takes the full risk of charge backs?

It's not just one payment processor doing this, all the major ones are doing it so it can't be some rouge executive forcing his religious morals upon others.

[ Parent | on HN ]

Re:OnlyFans shows Visa and MasterCard are 'choke-points' of ... by clarge1120 on Tuesday August 24, 2021 @08:40AM (#28288031)

Whether it’s done on purpose, or not, this move will drive adoption of alternative digital payments.

[ Parent | on HN ]

Re:OnlyFans shows Visa and MasterCard are 'choke-points' of ... by supertrope on Tuesday August 24, 2021 @01:03PM (#28291705)

Exactly. 20% of your customers are associated with 80% of your problems. Right now there’s an equilibrium where payment processors take on some medium risk merchants at much higher fees to cover the disproportionate costs of chargebacks and regulatory risk.

[ Parent | on HN ]