A rash of Steam delistings are the result of Valve's recent Steam policy change to forbid "adult games" that break rules imposed by banks and finance companies.
Virtually every payment processor uses VISA/MasterCard in the back-end. For EU users PayPal can be backed by SEPA mandates instead (direct bank pre-authorization), but otherwise VISA/MC is holding payment processors by the balls in virtually every other market. Without Visa/MC, there is no way to bring funds in or out of your account.
The only alternative is to negotiate interconnection with banks directly, but that’s a very high bar for broad adoption. It has happened on a small scale (e.g. Payconiq in the Benelux) and the EU is attempting to broaden that to the rest of the continent, but it’s a very tough sell because they have to convince every major bank to support the new standard.
This is a textbook case where capitalism isn’t the solution because there are only two market actors and a virtually insurmountable barrier to entry.
There are a lot of things why we don’t like capitalism, but this one I’m gonna love.
This will probably create a void in a market, where there will be companies with names like Horneam, Jizzbuzz, Lusteam, etc
Virtually every payment processor uses VISA/MasterCard in the back-end. For EU users PayPal can be backed by SEPA mandates instead (direct bank pre-authorization), but otherwise VISA/MC is holding payment processors by the balls in virtually every other market. Without Visa/MC, there is no way to bring funds in or out of your account.
The only alternative is to negotiate interconnection with banks directly, but that’s a very high bar for broad adoption. It has happened on a small scale (e.g. Payconiq in the Benelux) and the EU is attempting to broaden that to the rest of the continent, but it’s a very tough sell because they have to convince every major bank to support the new standard.
This is a textbook case where capitalism isn’t the solution because there are only two market actors and a virtually insurmountable barrier to entry.
Pornhub and other adult sites did pivot heavily to crypto after being cut off from traditional payment processors.
Also maybe digital euro and digital yuan might be an alternative to this darkness
Yeah, but we need something like Lustercard, Rizza and Pornpal here, since the problem isn’t on content company level.
If you believe in God, everything is possible
Crypto
So it’s only PayPal
Visa been doing similar things for a while.
Yeah… well, I researched it a bit and it turns out that it’s not only PayPal. Both Visa and Mastercard are not used for Pornhub Premium.
PayPal just launched it