Mastercard (and Visa and AmEx and Discover) do not want their networks to be used by merchants selling pornography.
I would think the only reason is the chargeback/fraud rates are too high in this type of business, as well as not wanting to be involved in a business where there may be a high chance of illegal content.
>The banks will now have to ensure that sellers require “clear, unambiguous and documented consent” in adult content, the payments network said in a blog post Wednesday. The firms will also be required to ensure websites document the age and verify the identity of anyone depicted in pictures and videos as well as those uploading the content.
>“The banks that connect merchants to our network will need to certify that the seller of adult content has effective controls in place to monitor, block and, where necessary, take down all illegal content,” John Verdeschi, Mastercard’s senior vice president of customer engagement and performance, said in the post.
Allowing merchants to sell pornography is probably not worth the hassle for the card networks.
Sounds like MasterCard is in fact fine with merchants selling pornography, but the merchants aren't willing to do so on MasterCard's extremely reasonable terms.
Have you got a reference to that? the terms that were quoted in the grandparent comment do seem extremely reasonable:
>The banks will now have to ensure that sellers require “clear, unambiguous and documented consent” in adult content, the payments network said in a blog post Wednesday. The firms will also be required to ensure websites document the age and verify the identity of anyone depicted in pictures and videos as well as those uploading the content.
>“The banks that connect merchants to our network will need to certify that the seller of adult content has effective controls in place to monitor, block and, where necessary, take down all illegal content,” John Verdeschi, Mastercard’s senior vice president of customer engagement and performance, said in the post.
The thing I don't understand is if those quoted terms above are the rules that onlyfans is falling foul of, then wouldn't it be easier to build a tracked system for documenting consent e.t.c. rather than banning things.
That would seem like a better strategy for OnlyFans since it seems like their entire business model will be in jeopardy without this.
I wonder if they want to do this, and then turn around and say "we've listened to the community and we're gonna integrate this consent system instead" so it won't be treated so negatively or something?
I am upset, but not at the private companies. I am upset at politicians for not getting the ball rolling on an electronic payment method that works like cash in the interest of its citizens.
I would think the only reason is the chargeback/fraud rates are too high in this type of business, as well as not wanting to be involved in a business where there may be a high chance of illegal content.
https://www.bloomberg.com/news/articles/2021-04-14/mastercar...
>The banks will now have to ensure that sellers require “clear, unambiguous and documented consent” in adult content, the payments network said in a blog post Wednesday. The firms will also be required to ensure websites document the age and verify the identity of anyone depicted in pictures and videos as well as those uploading the content.
>“The banks that connect merchants to our network will need to certify that the seller of adult content has effective controls in place to monitor, block and, where necessary, take down all illegal content,” John Verdeschi, Mastercard’s senior vice president of customer engagement and performance, said in the post.
Allowing merchants to sell pornography is probably not worth the hassle for the card networks.