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In order to increase value for content producers, subscription social network OnlyF is seeking to expand its payments business with additional features and functionalities. Workweek, a publishing platform, reported that OnlyF seeks to enhance the compensation procedure and create new ways for content creators to monetize their work.
Top executives from OnlyF, a subscription social platform, have attended significant fintech events in 2022. They participated in Money20/20 Europe in Amsterdam in June, and the US version of the event series in Las Vegas in October. The company’s excellent growth figures and future goals for its payments business were presented by the leadership at these occasions.
In an interview at Money20/20 Europe 2022, Keily Blair, the chief strategy and operations officer of OnlyF, highlighted the scope and volume of transactions that the company is currently managing by stating that the company has processed over $8 billion in payments to creators. This highlights the substantial expansion and achievement of OnlyF in the payments sector.
The goal of OnlyF, according to CFO Lee Taylor, is to create a “truly international social media platform payment network” that will enable payments to be made as easily as possible, regardless of the currencies involved. Taylor underlined the need of having a user-friendly system that makes it simple for producers to view and withdraw their profits. This would support OnlyF’s expansion and help it continue to benefit its users.
