|
CCBill, IBill, Epoch, I believe Jettis and WSB, all fall under the PSP category now, which was adopted by Visa given the range of services and type of operations we run. We are highly regulated, even more so almost every month, and we also report to Visa (and soon to be Mastercard it appears) the URLS of all sites we process for, on a monthly basis, along with a credit/chargeback report against sales for each of those urls.
It would stand to reason that Mastercard, like Visa, wants to know who is using their card to accept payment for what, which is well within their rights as a company, and well within the mysterious and fluid agreements they have with merchant account holders.
A company like Paypal, on the other hand, runs a sort of 'virtual currency' service, which is a true aggregator and a factor on the sellers side as well. Paypal doesn't qualify to be a bank, has zero regulation on what is bought and sold with Paypal transfers at the moment (or at least no enforceable regulations) and holds an absolute shitload of consumers money in trust. Since this money is transferred as a purchase instead of a cash advance, banks not only lose out on the cash advance fee they could be charging, they also stand to be liable for that money if Paypal were to go under and consumers started asking for chargebacks.
I could go on a bit, but this is getting long as it is...
|