Mega, the file storage and encryption service, will no longer be able to process payments by using PayPal. PayPal announced that it will not be processing payments for Mega under the belief that it is “not a legitimate cloud storage service.” Both Visa and MasterCard also have stopped offering processing services to Mega. Visa, MasterCard, and PayPal were all under heavy pressure from the movie industry, which claimed that Mega was illegally offering file sharing and storage of films that were protected by copyright. Mega was started by Kim Dotcom in 2013, after the fall of his previous file sharing service, Megaupload.
Mega is currently in the process of being sold to TRS Investments for $210 million in a reverse listing. Mega isn’t going to stop its services, and the company noted that it is now in the process of finding new payment processors to replace PayPal. Mega claims that it is operating in more than 200 countries with over 15 million registered users, and there is no doubt that several payment processors will look to acquire the business that PayPal, Visa, and MasterCard turned down.
High risk businesses and businesses outside of the mainstream can sometimes find it difficult to find the right payment solution. Sometimes, like with Mega, traditional payment solutions won’t be compatible with your business. That doesn’t mean that you have to stop offering your services or only take cash. On the contrary, there are plenty of options for alternative payment processing that you can use for your business. If you need alternative payment processing, you want to look at eMerchantBroker.com. eMerchantBroker.com provides a wide array of payment processing solutions to fit your specific needs. If you are looking to get an alternative payment processing solution, you should be looking at eMerchantBroker.com.