

I think people are mostly upset about some bank telling them how they are allowed to spend their money (by restricting what is available for sale). What if those big banks decide that, say, R-rated movies are too much of a liability for them and demand retailers stop carrying them? I’m not sure what an alternative would be, but allowing a bank to decide what you can spend your money on is a bad precedent given that everyone is basically required to have a bank account these days.
The article mischaracterized the protest. If you read the change.org petition it’s about protesting Visa, Mastercard, and moral advocacy groups. The petition even goes as far as to point out the hypocrisy of the decision.
I wish I had a technical solution but I really don’t. As much as I can’t stand cryptocurrency in the way that it’s being implemented, this is the kind of problem blockchain technology could potentially eliminate. I think the bigger problem is social - people trust credit card companies because of things like charge backs and fraud protection. Shopping in a store is one thing but when you’re buying from a faceless digital store front people seem to want a third-party to secure things and protect their money.