Hello everyone.
I have done some research why Mindgeek wanted to get involved with Verge. What you will get from this is the main reason and driving force behind the partnership. It is very clever and interesting. And by the way it is not for the membership fees only.
The credit card companies involved CC Bill , Epoch and Segpay) are the main 3. Visa and Mastercard stipulate and control the rules. They charge ludicrously high fees to the industry up to as much as 17 percent. This is due to the adult companies charging on hidden fees. Anything over 2% , Visa and MC threaten to take the merchant license away. This is their lifeline and the reason porn sites close down. There are a lot of charge backs that the industry has to swallow. This is from various avenues such as fraud or disputes. this can equate to as much as 20 %. Basically the porn industry is being held hostage by the credit cards. Verge is starting to make more sense now.
Pornhub is big but that is not the main reason. It is in control of all the advertising of the porn industry. A bit like Google adwords. If you are another porn company you purchase traffic via them. How does this work? A company called Traffic Junky does this. Whether you are a cam model, porn site, DVD retailer, webmaster etc you all go through this one site. The billing company is Pro Biller surprisingly the same biller for Mindgeek. They want to get away from credit cards due to the high fees so once Verge is adopted expect it to be used by the entire industry.
This is the main reason they have partnered with Verge it is the savings on payments for membership and every other payment associated with the adult industry. Using Verge will eradicate charge backs and the huge transaction fees.This will take some time but it is going to happen. They are an innovative industry and are ahead of everyone else.
Yeah , it all adds up.
how did you do this research? sources? if this is the play of the (porn)game this is indeed some good news...
Moon for verge and Moon for porn :D
Been doing lots of reading into credit cards and why there is only 3 main cards for porn plus one video which was done my an ex playboy director. He put me in the direction and have never heard of all of these companies before but it is true and adds up. Figures are incredible. Didn't put them in this article. Will do a follow up tomorrow. It is massive. Did one on the gatekeeper yesterday but now understand it even more. They are the controllers of porn worldwide. Pornhub is a "free site" but it controls Traffic Junky and Pro Biller. The last 2 are the most important part of the puzzle. They dictate how payments are made and is in their best interest to use crypto. This will save them $100's millions on fees every year. That is why they wanted it.
nice one m8!
The porn industry together with the gambling industry are indeed always front runners on the technology side!
No question about it.
It is true that you may not have any favorites when investing into coins. But we all, at least I have, a limited fund to spend on coins. And choices have to be made. Also for each coin I want to purchase I do have a max price and Verge passed this a long time ago.
But thanks for the information!