> “The proposed Oct. 1, 2021 changes are no longer required due to banking partners’ assurances that OnlyFans can support all genres of creators,” [an OnlyFans spokesperson] said.
https://variety.com/2021/digital/news/onlyfans-drops-porn-ba...
The Variety article theorizes that the backlash may have actually been exactly the outcome OnlyFans wanted, because they were able to focus public outrage toward the banks and payment processors putting them in that position.
Nobody wants to change banks even when it affects them directly. How many people are going to change banks out of principle?
I guess some Gen Zers might be motivated not to pick Chase as their first bank?
Well, a not-great but plausible answer, maybe -- companies make changes, both good and ill, because they're panicked over PR fiascos all the time. From all appearances, MasterCard announced those policy changes because of PR pressure that was put on them by "Exodus Cry," a fundamentalist Christian anti-porn activist group. OnlyFans may have calculated that their best bet was to knock Exodus Cry off their hashtag-save-the-children pedestal.
99% of normal people find cryptocurrency strange and inscrutable, and if you think otherwise you're in a bubble.
1. Customers in e.g. the EU may push their reps to "do something" about two US companies controlling all e-commerce.
2. Customers frustrated that Mastercard have gone on the record as refusing to block payments to terrorist-supporting orgs while refusing to process payments to look at titties may pressure regulators to start having a much closer look at Mastercard's money flows.
Both of those seem like meaningful concerns.
Regulators are much more on the side of MasterCard than they are on the side of disgruntled pornography customers.
I don't have a dog in this fight but it certainly reminded me how much power V+MC have to become an existential threat along the likes of Google and Spectrum. Next time I write to my Congressman about antitrust, I'll be sure to put them top of the list now (for all that's going to do...)