Comment by seanmcdirmid
5 months ago
The problem is that the payment processor is liable for money laundering and other suspicious transactions. They just can’t say that the customer’s business was not their business, there is no safe harbor for payment processors.
I agree, but the money laundering would be a de facto criminal act. It would be a mistake, however, to give payment processors a version of Sec. 230. For any financial institution that could be calamitous. Maybe there should be a very minimal line of protection, much like we do with a lot of cybersecurity for banks - they self certify they are doing their best. It still goes back to the original concern: If a payment processor can block someone for a political view, or a business for a social view, what's not stopping them from blocking someone merely over a disagreement about speech - for anyone.