Not to take responsibility away from these financial services companies in how they screw their customers but it's worth mentioning that governments themselves are enormously responsible for causing many payment gateway problems:
Extremely paranoid and grossly onerous regulatory compliance requirements make innovation in this space difficult at best
KYC and AML rules that are both obscure, highly byzantine and don't even allow banks to clearly communicate basics to their clients mean being arbitrarily screwed for really stupid reasons and having little recourse, with financial services companies further getting an excuse to continue abusing by passing some of the blame onto government rules.
Oh and as another comment right near here mentions, payment processors simply cancelling or denying service (sometimes even freezing funds on their own account) for businesses, organizations and individuals who participate in activities that a government (especially the U.S government) doesn't like for arbitrary bullshit "moral" or political reasons. This too is despicable because it often involves economic punishment for people who are doing nothing even remotely illegal.
Extremely paranoid and grossly onerous regulatory compliance requirements make innovation in this space difficult at best
KYC and AML rules that are both obscure, highly byzantine and don't even allow banks to clearly communicate basics to their clients mean being arbitrarily screwed for really stupid reasons and having little recourse, with financial services companies further getting an excuse to continue abusing by passing some of the blame onto government rules.
Oh and as another comment right near here mentions, payment processors simply cancelling or denying service (sometimes even freezing funds on their own account) for businesses, organizations and individuals who participate in activities that a government (especially the U.S government) doesn't like for arbitrary bullshit "moral" or political reasons. This too is despicable because it often involves economic punishment for people who are doing nothing even remotely illegal.