It's been in the news recently that payment processors are dropping their clients left and right, meddling with small businesses, and not being very upfront about it. In articles that mentioned why a company is now having to fight with their payment processors, often terms of service agreements are mentioned, with payment processors saying something to the effect of "Well, you agreed to these terms when you signed up for our service, so this problem is all on you." However, often the companies being dropped have been working with their processor for a long period of time.
Intuit is meddling in the monies, and policies, of legitimate gun companies.
Square is jumping on the bandwagon (1).
- Why do payment processors meddle with their business partners?
- Why would they engage in political assassinations?
- Why would payment processors require vendors to go above and beyond the law for certain transactions?
- Doesn't this meddling incur liability against otherwise legally covered business transactions that aren't meddled with?