Pantherina (he)The Free Software Foundation Europe was cancelled by their payment provider after refusing to hand over personal account data!
ImgurRefugee114Payment processors are a blight
Actually yeah. Completely useless intermediaries just leeching other peoples money.
π²πππππππ πΌπππ I understand the sentiment but payments are quite a bit more complex that people tend to realize. For most companies, handling payments directly without an intermediary is far too expensive, complex and risky.
Fuck MasterCard and VISA btw.
Source: I work for a PSP.
Whatβs a PSP
Payment Service Providers sit in between companies (eg webshops) and payment methods/banks/card schemes. So as a webshop, instead of having to integrate with a bank to do transfers or with PayPal, you only integrate with the PSP. A lot simpler to do, and instead of having to chase each individual payment method for your money, the PSP will handle that for you. They can also provide additional services like a unified dispute view, credit management, small loans, etcβ¦