It's probably true from the perspective of the credit card companies. For the activists it's about ethics and morality, but I think for the credit card corps it's about their fear of the reputational harm the activists might be able to inflict.
That is not compatible with what I took from reading the article.
Collective shout isnt the one making decisions here, the payment processing companies are. Just because they came to the same conclusion doesnt mean it is for the same reasons.
I can't square your understanding of this with what is said in the article.