Why and how do banks hold so much power over companies like OnlyFans? Can OnlyFans find different ways to process payments if the banks cause them issues again?

Question

Why and how do banks hold so much power over companies like OnlyFans? Can OnlyFans find different ways to process payments if the banks cause them issues again?

In: Economics

Answer 1

Without any access to credit/debit card payments, OF would have a very hard time maintaining any revenue. Recurring bank transfers aren’t something many users would want to set up, and there aren’t many other options available