5 ms·
In my experience, having worked at several large PSPs, it is Mastercard and Visa who are the morality police. Stripe are just enforcing the rules insisted on by
by 3uler 2mo ago
In my experience, having worked at several large PSPs, it is Mastercard and Visa who are the morality police. Stripe are just enforcing the rules insisted on by them, and PayPal forgot about them 3 layoffs ago.
- edoceo 2mo agoThen how do other processors go over the Visa and MC rails for these transaction types? How does Stripe allow some and then block others?
- aiisjustanif 2mo agoWhich ones? Mastercard banned cannabis related changes before [1] [1]: https://www.bloomberg.com/news/articles/2023-07-26/how-to-buy-pot-not-with-a-mastercard-ma-debit-card-company-says https://www.bloomberg.com/news/articles/2023-07-26/how-to-bu...
- edoceo 2mo agoPayPal lets cannabis adjacent business get paid via MasterCard as a PayPal funding source. Perhaps you are confusing cannabis with cannabis-adjacent business (grow lights, compliance solutions, etc)
- reddalo 2mo agoSimply put, Stripe doesn't want to deal with the risk associated with those transaction types.
- mrguyorama 2mo agoWhat do you mean "Stripe doesn't want to deal with the risk"? What risk does Stripe take on in this situation?
- edoceo 2mo agoI know it's about risk. Perhaps my point was not clear? Simply put: Stripe selectively applies their own policy about "restricted" transaction types.
- olalonde 2mo agoYou said it was about morality, so it was not clear you knew it was actually about risk. Each payment company has to set their own policies because regulations tend to be (intentionally) vague and not all companies have the same risk tolerance. If the legal risks weren't there, Stripe would absolutely accept these categories. You should really complain about the dumb AML regulations instead.