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Message # 5200.1

Subject: Hello Re: VISA is spying on you and the future for Visa

Date: Sat 09/08/03 02:35:44 GMT

Name: MK gb

Email: wamtec@compuserve.com

Website:

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Interesting stuff Brian.

 

I am surprized how thick governments and their tax collecting organizations can be...cos they should be ENCOURAGING corporations like Paypal and Visa to SUPPORT legitimate and legal means for legal adult products to be purchased....cos this forces them to pay TAXES on all their income.

 

Trying to ban adult items from being bought on paypal or visa is dumb....the only loser in all this will be THE TAX COLLECTORS. Because...human beings will still buy what they want to buy...one way or another...and adult merchants are still going to produce and sell legal products that are defined as legal in their given countries. So...all that paypal and visa are doing...are driving more people into the "underground economy" and using money orders and covert e-payments thru less well tracked services like western union and yahoo pay direct....and what does all this mean...human beings are human beings...and merchants who use visa or paypal tend to report all their income and pay taxes on it...whereas when they get cash and money orders and untraceable payments sent to them via other means....well...thats like asking a waitress to report the god's truth on how much money she makes on tips.

 

The adult industry is a 500 billion dollar industry....and so just think of all the tax revenues that will be lost....thanks to corporate puritans driving the adult industry more underground and into the world of untraceable money orders and covert e-payments.

 

This does not affect the consumer nor the producer...cos consumers will still buy and producers will still produce....the only loser in all this will be the government Tax Collectors.

 

Ditto viz the gambling sites that paypal and visa now bans too.

 

MK

In reply to Message (5200) Danger VISA is spying on you and the future for Visa

By crazygirlsbrian - webmaster@crazygirlsinternational.com ar Sat 09/08/03 00:49:52 GMT

Website:


While investigating why Multicards stopped processing transactions for us, I learned that almost all banks in Europe have stopped adult transactions due to the new Visa Regulations and privacy concerns.

 

You may not know it, but every Visa transaction you make is coded.

That code tells Visa and your bank what TYPE of goods or services you are buying.

And it is NOT only used for statistical reasons.

According to the European banks these and other changes were brought in by Visa at the request of the U.S. government.

 

For example banks in France, who handle the billing for many online gambling sites, have had many transactions turned down because they refused to use the code that would divulge to Visa that the transaction was for gambling.  This is because France has a privacy law that actually MEANS something.

When they were forced to comply with Visa or face being cut off from Visa, they found that 50% of their sales to US customers were refused by the customers bank because they did not allow their customers to use their Visa card to gamble online.

 

The privacy and civil liberties implications are obvious.

Your bank has a record not only of what you spend and who with, but the type of goods and services you are buying online and they use this information to decide whether you can use their card.

Do you want your bank to know that you subscribe to adult sites?  No?  Well, despite the innocent-sounding name that may appear on your statement, your bank KNOWS.

 

Because of this and other recent actions by Visa and MasterCard, the banks in Europe are in discussions about launching a new card, which will free their customers from the all-seeing eye and might of Visa.

In addition, some major banks IN the U.S.A. are looking into starting their own non-Visa cards.  Several are actually in litigation with Visa USA over the matter at the moment as Visa USA are trying to stop them.

It is possible that the European banks may end up refusing to handle Visa and Mastercard although their past cowardice suggests that will not go that far in standing up to Visa.  However, if they do, banks in Asia are threatening to follow suit.

That will mean that the U.S. will be isolated.  Americans will not be able to use their cards in most other countries and most people will not be able to use their cards in the U.S.A.

Canadian banks are watching and waiting to see what happens.

 

Brian

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