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Hi Frog
Na.. it ain't a loophole as such.. I am not any expert at this, but - VISA US is not VISA International and they are divided into .. think six banking regions. As far as I understand at the moment, all regions, with the exception of VISA US have rejected the kindly proposals for new rules.
So we have, particularly three, US based processors wincing on the prospect of losing clients (can't blame em!).
Eslewhere, least at the moment, there are no biggies concerning card transactions to "high risk" clients.
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