I think this is one of those "works, but not at scale" situations. The law around protected classes is proof of this: if there's a racist business that won't serve you, startups could gain an advantage by serving you. But if every business around you is racist such that a startup couldn't gain a foothold, there's a market failure that regulation was added to address.
If you don't like what telephone companies do, making your own phone company that doesn't inter-operate with the current ones would clearly not go very well.
Likewise, if you don't like the current banks or payment processors, you have a steep hill to climb in that all the operative tissue is built around the current model.
I don’t know why everyone brings up telephones or electric grids. Your ability to purchase porn with credit card is not a right. It’s hilarious to even think about. Also given the stance in some countries like the US or parts of Australia it’s a hard argument to make. It’s far easier for these companies to self regulate for matters where there are constantly changing social and government norms.
Nothing is stopping you from buying porn but it’s quite possible Visa does not want their brand tied with more niche content.
If you don't like what telephone companies do, making your own phone company that doesn't inter-operate with the current ones would clearly not go very well.
Likewise, if you don't like the current banks or payment processors, you have a steep hill to climb in that all the operative tissue is built around the current model.