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They know their platform. I presume that prior to the announcement they had tried everything they could to continue BAU. The fact that they're able to now reve
by jfoster 5y ago
They know their platform. I presume that prior to the announcement they had tried everything they could to continue BAU.
The fact that they're able to now reverse the announcement makes me wonder what changed. Did they find a new banking or payout partner? Existing ones had a change of heart? Feels like there would be more to it than these possibilities.
- dannyw 5y agoBanks: if we ban onlyfans and other widely popular services, a decent number of people might actually turn into crypto and make our business extinct.
- jfoster 5y agoBut OF didn't announce a move to crypto payments. They announced that they were wiping out a massive amount of their current business in order to stick with traditional payments.
- SilverRed 5y agoOr more likely, it might raise eyebrows at how payment processors control the world right now and lead to some kind of legal action.
- jliptzin 5y agoMy guess is they are just paying higher transaction fees now
- jfoster 5y agoThat would make sense from a perspective of the transactions being higher risk, so higher transaction fees could cover the additional risk. Why would they not have explored that option in the first place, though?
- jliptzin 5y agoProbably just a ploy to make the payment processors think they would actually go through with banning porn on their platform. No one actually cares about the porn except a very small percentage of mostly religious nut jobs. They just wanted more money.
- jfoster 5y agoCertain categories (porn, gambling, etc) of payments reportedly have a lot more fraud associated with them. If that's true, it makes sense for this to just be settled through a rate-card.