Itch made this decision overnight, no discussion, and has also not been paying out the devs involved, according to some of these devs. This is not "just the payment processors", Itch is complicit. They payment processors are the main problem, but itch is not a blameless victim.
To add a bit of context - Itch.io previously had delayed payments without this whole thing going because of spam. This will just accelerate devs not being paid because they have to check which games can be allowed to pay in the first place. It's not so easy as "we will pay everyone until we figure out which games we can take down" as payment processing companies wanted immediate results. Steam didn't have discussions with the devs either, neither had DLSite nor platforms like Patronite when they were limiting what can be allowed on the platform.