This "abuse" and all the half dozen other "look at this abuse this <company I do financial transactions with> is now doing" in the last few days is actually maybe due to some new requirements effective Jan 1 2024 in the US that entities that do business here have beneficiaries registered https://www.federalregister.gov/documents/2022/09/30/2022-21...
Square is probably the most similar competitor (in the US at least). Paypal has some similarities. Venmo in some ways. Clover. Ayden. Stax. Wave. There are others. Of course, most banks can also provide credit card terminals and merchant services for business customers too.