Comment a little insight into what the issue could be... (Score 1) 301
Back in the early two thousands, we had V.P. level access to Paypal, because a client of ours was kind of a big deal. It was a multi-million dollar deal -- and Paypal HAD to turn it down. Why? They stoned lipped us at the time and didn't tell us why. We got the story from the V.P. after he left the company later.
You see, Paypal once wanted to be a bank. In order to be a bank, they had to be FDIC insured. And therein lies the hitch. You see, back then, the Bush administration frowned on certain adult orientated entertainment. The US government told Paypal, under no uncertain terms, that if they wanted to even be considered for FDIC insurance, they had to give up all monetary benefits from adult orientated entertainment.
I would speculate that this is less bank or Paypal driven (Banks don't have any problem taking porn money, after all, they just charge the porn companies more for taking it) then it does government driven and Paypal having inked a deal with the US government.
Of course, this is pure speculation and heresy and I'm sure if you asked any of the parties involved, everyone would deny it.
You see, Paypal once wanted to be a bank. In order to be a bank, they had to be FDIC insured. And therein lies the hitch. You see, back then, the Bush administration frowned on certain adult orientated entertainment. The US government told Paypal, under no uncertain terms, that if they wanted to even be considered for FDIC insurance, they had to give up all monetary benefits from adult orientated entertainment.
I would speculate that this is less bank or Paypal driven (Banks don't have any problem taking porn money, after all, they just charge the porn companies more for taking it) then it does government driven and Paypal having inked a deal with the US government.
Of course, this is pure speculation and heresy and I'm sure if you asked any of the parties involved, everyone would deny it.