I don't know, but I would assume this is because payment processors uniformly refuse to handle payments for a number of legitimate customers, such as sex workers. Which is yet another reason we need something like a common carrier law for merchant services.https://twitter.com/inputmag/status/1428421204055052296 …
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For example, here are all the businesses that cannot use Stripe. It includes many types of businesses that would be legal to operate in the US/elsewhere, but which nonetheless effectively can't because almost all payment processors use a list like this.https://stripe.com/restricted-businesses …
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Replying to @cmuratori
Wait what?!? "...cryptocurrency mining equipment..." So if your web store sells GPUs, Stripe will refuse to handle your transactions?
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Replying to @AlenL
I hadn't looked into it before but yeah, I got a lot less positive about Stripe once I read their "non-puritan businesses" list.
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Replying to @cmuratori
And you know what's the worst - ambiguity and uncertainty. I'm sure they don't actually review this for every customer. They just keep this as a landmine that they can activate whenever they feel like it. They can cancel almost any business based on that list.
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Replying to @AlenL
This is similar to PayPal. I'm sure they just want whatever is easiest for them, so they put up a big list knowing that everyone qualifies under some part of the list, so they can just get rid of people at will, etc. I mean one of Stripe's restricted businesses is "contests".
2 replies 0 retweets 4 likes
Like, OK? Someone ran a contest, so now you can terminate their contract?
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