Money transmission business and alternatives are already in the process of being approved. Legislating them further will go no where. They are already one of the most regulated businesses there is... That is exactly why the barrier of entry is so high.
Unfortunately they can terminate you for ANY reason. The merchant account vendors are nothing but blackmail artists.
In this case I say fuck the free market. It's not free when the barrier of entry is so high. Fuck these companies.
I say we legislate the fuck out of them to make them do their job, their only job, which is PROCESS PAYMENTS
Money transmission business and alternatives are already in the process of being approved. Legislating them further will go no where. They are already one of the most regulated businesses there is... That is exactly why the barrier of entry is so high.
More legal barriers less competition.
Congress says "hello".