Why doesn’t this software already exist?

R

ronjoseph93

New member
“Paypal for sex workers”

Why isn’t there an online payment system marketed toward sex workers? I’m talking about people selling custom NSFW content, phone calls, erotic literature, etc. Nothing illegal.

Sure there are platforms like OnlyFans, Patreon, and of course porn sites, but there isn’t a simple payment processor for folks in the adult industry.

So why not? Is it a legal hassle? Is it because there are already so many huge competitors, even though Paypal, Zelle, Venmo etc aren’t adult industry friendly?
 
@myeverything No worries! Thanks for asking.

It’s against the ToS on most, if not all, major payment systems. Adult content creators are constantly losing funds and getting their accounts closed when they get “caught.”

Paypal, Venmo etc will close an account at the first sign of sex work. Adult performers can’t dispute fraudulent chargebacks and “customers” take advantage of this often.
 
@ronjoseph93 Ooh, Just set up a website with a Coinbase Credit card -> Bitcoin payment gateway on it, and charge a monthly fee. Your customers get a professional looking "Pay me" page they can send to their clients.
 
@ronjoseph93 When they legalized THC in Washington state, there was an issue for businesses who operated there. Although what they were doing was legal in the state of Washington, it was illegal federally. The federal government made it impossible for banks to service these legal pot shops, or for them to accept credit cards, because they couldn't apply for normal merchant accounts. At one point the federal government even threatened they would use RICO to seize any funds they could find from these businesses.

A startup came around a year or so ago that solved the problem, with a bitcoin-based POS solution. Basically, they created a hardware device that had a credit card reader & merchant account connected to it, and did nothing but purchase Bitcoin. The shop owner entered an amount, handed the terminal to the customer, and let them swipe their card. Immediately bitcoin would be sent to the merchant. Problem solved (in a round-about way).

I have no idea how they're structuring this in the US though. They might be basing the company out of another country, to get around payment processing regulations. In the US, there's something called "Know your customer" laws that seem like they would make this difficult.

If you're interested in this approach, I would see if you could figure out the basic setup for how Bitcoin ATMs currently work, and how they stay compliant. And you're probably going to have to work to find the right merchant for your bitcoin-based payment service. But the APIs exist for you to automate all of the cryptocurrency-based parts of making something like this work (getting conversion rates, purchasing & sending crypto, verifying transactions, etc.) -- you just have to find a payment processor that doesn't have a policy against cryptocurrency.
 
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