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Only Fans and Payment Processors in the Sex Industry
Hi everyone, the news of the OF decision to remove content of a sexual nature seems extreme, given the money they must be leaving on the table.
How is there not a Stripe for 'riskier' industries? There do seem to be some processors but their reviews are that they are expensive/poor UI/UX. Is it chargeback risk? Or lack of banking partners willing to work with this? Or the risk of child abuse material on the sites? Or is it a good area for sexy stripe to pop up?
- willcate 5y agoAm surprised OF decided to take the pill rather than go crypto. But, to your question... pressure was brought-to-bear by gov't regulatory agencies against all the credit card companies and payment processors. Anyone who tried to get into this space today would face the same problem.
- alejbeck 5y agoRead that but it didn't go into what that really meant? is pressure being put on banks and payment processors? Is it AML type regulatory issues?
- smt88 5y agoSupposedly the payment processor excuse might have been a smokescreen for a much bigger problem -- refusing to remove illegal and harmful content. We'll have to see though. https://www.theverge.com/2021/8/19/22633411/onlyfans-banned-explicit-porn-sex-content-after-bbc-investigation-leak https://www.theverge.com/2021/8/19/22633411/onlyfans-banned-...