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VISA/MC can't see what you spend you money on for the most part. Just where and if where you're sopending it sells something they don't approve ofb they will cease payment processing for ANY and EVERYTHING related to that retailer.
Though this may well be backfiring on them in a big way since a lot of countries and regions are now looking very closely at how much impact VISA/MC have in thier commerce and the growing consensus is 'too much' the BRICs nations are already field testing their alternative system, and the EU is now looking into developing their own.
They are about 10 years later. Duopoly is too big now
You could make a longer answer involving another American sacrement: "consent." It provides a moral blank check for anyone who does not believe fiction is separate from reality to harass any sort of material banned in the recent waves (And in fact is the only moral argument on issues of lewd content that anyone knows), except for that pesky "incest" clause, which unfortunately gives the game away as merely an arbitrary exercise of someone's personal disgust reflex, as to single out incest over furry or any of a dozen other fetishes is self evidently silly.
One thing you can readily and trivially observe is that the decision was NOT made to pursue profit but for other motives, but this is also an argument unfamiliar to many