Putin Passes Law Requiring $3.8B Security Payments From Visa, MasterCard

Re:Putin Passes Law Requiring $3.8B Security Payments From V... by bayesianhorse on Tuesday May 06, 2014 @11:21AM (#7704997)

The way the U.S. economy is dealing with this is through adoption of other payment processors.

But any entity which fulfills the functions of a bank will pose these problems, especially with high market penetration...

At least in the West there is something like due process, which is enough to put an upper limit on the abuse these companies can dish out.

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Re:Putin Passes Law Requiring $3.8B Security Payments From V... by mike_hearn on Tuesday May 06, 2014 @12:05PM (#7705299)

Due process is a concept that applies (or is supposed to apply) to governments. It does not apply to private financial services companies. Politicians have realised this and are now aggressively and vigorously violating it by stepping outside the regular judicial system and simply scaring banks/card companies into stopping business with anyone said politicians don't like.

It wasn't Russia that started this trend. It was America.

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Re:Putin Passes Law Requiring $3.8B Security Payments From V... by bayesianhorse on Wednesday May 07, 2014 @07:14AM (#7709540)

Due process does apply to contract disputes.

There is very scarce evidence that politicians in the US have used this technique against "businesses they don't like"...

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