Less than a week after announcing plans to ban pornography from its platform, OnlyFans has decided to rescind its initial policy change that was supposed to effect on Oct. 1. (NYT)
The platform originally said the new policy was to comply with requests from banking partners and payment providers. But in a Twitter post on Wednesday, the OnlyFans it “secured assurances necessary to support our diverse creator community.” (WSJ)
An OnlyFans spokesperson declined to tell Variety any specifics on which bank or banks it has renewed or new payment-processing agreements with, reiterating that “The proposed Oct. 1, 2021 changes are no longer required due to banking partners’ assurances that OnlyFans can support all genres of creators.” (Variety)
OnlyFans was founded in 2016 as a way for users to post content for paid subscribers and later became popular with sex workers amid the pandemic. The platform says it has 130 million users, 2 million creators and has paid out $5 billion to performers and models. (NBC News)