191–200 of 802 posts
Financial deplatforming is a monster, long-term trend to watch over the next decades. Deplatforming happens with sex workers. It also happens in the US marijuana industry. It happens with perfectly legal political content. The number of ways in which someone, somewhere will be offended by products or services for sale is growing, driven by a rapidly improving worldwide communication network and delivery system, and b…
What are the biggest cost centers for a new payment provider? Software engineers? Rack space? Dispute (fraud) resolution? Marketing?
Payment providers earn a fraction of a percent on transactions, so they must have extremely high volume in payments to be sustainable. It takes hundreds of millions just to be able to afford some workers and office.
Which can't happen because trust and fraud. A legit customer, especially with any amount of volume, would never adopt a small or unknown provider. Corollary, the provider only attracts low grade or fraudsters, assuming they ain't the fraudster themselves.
Earlier quoted context omitted.
wheres the disruptive fintech for these underbanked? Sounds like a gold mine for the right marketing team.
It's supposed to be called government. Public banking (like what California has recently approved) should be the answer for legal and under-banked.
Earlier quoted context omitted.
Stripe won't touch adult content, I've tried (chargeback ratio is very high, I don't blame them). Very hard to find processors who will work with adult content of any sort. The real problem is that person to person money transfers shouldn't be prohibited unless by law. Perhaps Pornhub, in the US at least, could use something like Zelle to mediate transfers between patrons and performers (using their bank account to m…
US PayPal is not a bank. They don't actually perform money transfers between individuals. You pay PayPal and they disburse it to your designee. There are two transactions involved.
True
> They don't actually perform money transfers between individuals.
It is regulated as some sort of money transmitter in every state: https://www.paypal.com/us/webapps/mpp/licenses
Earlier quoted context omitted.
There are plenty of porn friendly payment providers. They just cost a lot of money relative to "normal" merchants because of a few simple reasons: 1) Chargebacks -- people chargeback the shit out of these kinds of transactions. Significant other sees the bill, gets pissed / confused about the charge / whatever and gets it charged back. 2) Fraud -- people use stolen CC's to pay for this kind of thing. 3) Porn operator…
What's the percentage of porn-related shadiness is because our society and business culture forces that? It seems similar to drug prohibitions etc. I haven't had to deal with a shady drug dealer in years now that weed is legal. Maybe if vice-clauses and the like weren't so ubiquitous we'd see more upright actors in the field.
More recently, research suggests that rates of sexual assault go down when porn is readily available. It's a controversial thing that a lot of people don't want to hear at least in part because it directly contradicts a lot of feminist narrative that rape is about power, not desire.
Whatever you might think of the various professions... As long as it is legal, it seems the major payment service providers should not pass on their moral code onto everybody else. What's next? You get no water/power/whatever if you run a business that the service providers simply do not agree with?
Water/power are utilities and are regulated differently than other industries. But your general question is an open debate. If you run a hosting company do you have to host things you disagree with? If you run a transaction company doy you have to exchange with parties you disagree with? What if a certain type of transaction is too high risk, do they have to do it anyways? Personally I'd like to see things lean more…
Source: http://yourbrainonporn.com/
In the future, when people stop acting so ignorant, it'll be categorized as a threat to society in corrupting objective, rational and clear thinking.
Everything in extremes is bad, even freedom.
https://twitter.com/PornhubHelp/status/1189445175929647104
That will probably give a pause to any payment provider.