After being investigated by The New York Times, videos of alleged rape and child abuse on Pornhub were discovered. Credit card firms Mastercard and Visa stated today that they will no longer process payments for the adult website.
However, for Pornhub, Bitcoin is still an option, even though it's just a little advertisement. Pornhub has previously used crypto to deal with the problem with PayPal, the payment firm.
The site began accepting premium subscription service for Bitcoin and Litecoin in September. It had already started accepting Verge (a Dogecoin fork) in April 2018.
It also enables webcam models and other entertainers who upload to the websit to receive payments in Tether or Tron. Alternatively, they can register for direct deposit via their bank or use Cosmo Payment. What they cannot do is use PayPal, which stopped accepting payments from the platform in November 2019.
As per Pornhub's blog, PayPal's departure prompted the move to the USDT stablecoin.
MasterCard stated that the move to stop paying for Pornhub Premium subscription is permanent. Visa's move is temporary, pending the results of its own investigation.
The loss of payment methods may shock Pornhub, because it hopes to both maintain revenue and increase confidence of consumer and regulatory in its products.
While it ostensibly welcomes BTC, LTC and XVG payments, it has not made the process seamless.
On the one hand, its crypto page has not been updated with the additions of Bitcoin and Litecoin. Reading the "Join Pornhub Premium with Verge" button will go to the standard payment page, where users must still enter a credit card to register.
With the exit of visa and MasterCard, which leaves Discover and JCB (Japan credit bureau) as the remaining credit card choices.
However, Pornhub has more serious legal and ethical issues to deal with. It notes it's working to resolve the issues that caused Visa and Mastercard to leave.
It updated it terms of service and released a statement on Dec.8 that read, in part: "We have always been committed to eliminating illegal content, including non-consensual material and child sexual abuse material (CSAM)."
In order to curb it, it stated that it "will only allow properly identified users to upload content" and it had expanded its moderation and flagging procedures.