OnlyFans is one of the most popular pay-per-view platforms for porn. From October 1, these should be banned – the banks are to blame, says OnlyFans founder Tim Stokely. After all, the ban has now been postponed.
The OnlyFans platform had many of theirs Creators (that’s the name given to those who post content there for a fee). The background: from October 1st of this year, material with explicitly sexual content should no longer be seen there. The majority of the Creators At OnlyFans, however, does exactly that, in many cases even as the main source of income.
With around 130 million active users, OnlyFans is at the top of the favor of followers. The sex ban is also likely to have an impact on the platform’s income; OnlyFans retains a 20 percent commission from what these fans pay to their favorites.
The protests by fans and content producers have now borne fruit, at least for a short time: OnlyFans announced the postponement of the porn ban on Twitter.
Thank you to everyone who made their voice heard. We have received the necessary assurances to support our diverse creative community and have suspended the proposed policy change effective October 1st. OnlyFans stands for inclusion and we will continue to offer a home for all creative people,
The platform has announced that it will send an official email to the creators in a timely manner. As is well known, postponed does not mean canceled – this was also noticed by many sex workers who commented on the tweet.
OnlyFans CEO sees himself being treated unfairly by banks
The founder and managing director of OnlyFans, Tim Stokely, meanwhile sneaks out of responsibility. Compared to the Financial Times he blames an “unfair” treatment of his banks for the sudden exit from porn. Nudity should remain allowed. But that alone is not enough for the authors or the followers. The banks Stokely talks about seem to be concerned about their reputations. Nobody wants to be said to support a porn platform. Without cooperating banks, according to the OnlyFans boss, the authors would not get their money:
We’re paying over $ 300 million to over $ 300 million a month to over a million creators. To make sure that this money gets to the creators, we need to engage the banking sector.
In particular, the Bank of New York Mellon has « flagged and rejected » every transfer related to the company, which of course makes payments to the originators difficult.
Metro Bank from the UK and JPMorgan Chase from the USA seem to think similarly. However, Stokely also argues that OnlyFans’ reputation is better than these financial institutions think. After all, pornography is not illegal. Stokely denied reports that Mastercard was the driving force behind the platform banning sexual content from October 1st. From this date, other rules for “specialist dealers” also apply to the credit card provider. The suspicion also arose because in the case of Pornhub, Mastercard, together with Visa, had already acted as the moral leader. Since then, the platform has only accepted cryptocurrencies.