I am int he merchant services industry (read credit card processing). I just got this notification from one of our providers:
"Dear Valued Client,
With the recent announcement from the U.S. Consumer Product Safety Commission (CPSC) on new standards for Self-Balancing Scooters (aka: hoverboards) we have made a decision to move this product to our prohibited list.
It is also important to note that the CPSC has stated this product must comply with all standards set forth by Underwriters Laboratories Inc. (UL). Currently no Self-Balancing Scooter has received UL certification and they have only now begun to accept product submittals.
Priority's Risk Department will be contacting our sales offices that currently have merchants selling this product and will be closing the merchant account down. We also ask that our sales offices proactively search their own merchant base and close any of these merchants down immediately as they are now considered prohibited. "
This is just one provider but hopefully Visa/MC wont put it on the prohibited list.
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