Great point, and a lesson that has already been learned (in a positive way) by the insurance business in England.
Elephant & Castle was once an area in London where you couldn't get insurance easily, if at all.
It took the founder of a business incubator there to call a few friends in the insurance business with the same argument: "how will you ever take advantage of this market if you don't start somewhere? I will do whatever it takes on my premises for you to be comfortable giving me insurance. After you're comfortable with doing business with me, you'll have first-mover advantage in the area." It worked.
Of course, insurance is a slightly more competitive business than online payments.
And I see Oo's point in the addendum too. Running a business is time-consuming. Saying you've identified a market gap so you should start ANOTHER business is patronising and ridiculous. And whether or not there is more fraud from any specific country doesn't excuse the laziness of a policy that unfairly prejudices and overburdens honest businesspeople from that country.
Elephant & Castle was once an area in London where you couldn't get insurance easily, if at all.
It took the founder of a business incubator there to call a few friends in the insurance business with the same argument: "how will you ever take advantage of this market if you don't start somewhere? I will do whatever it takes on my premises for you to be comfortable giving me insurance. After you're comfortable with doing business with me, you'll have first-mover advantage in the area." It worked.
Of course, insurance is a slightly more competitive business than online payments.
And I see Oo's point in the addendum too. Running a business is time-consuming. Saying you've identified a market gap so you should start ANOTHER business is patronising and ridiculous. And whether or not there is more fraud from any specific country doesn't excuse the laziness of a policy that unfairly prejudices and overburdens honest businesspeople from that country.