People posting on the site will still be able to post some nude content, but it will need to be consistent with OnlyFans' policies.

The announcement comes after pressure from the company's payment providers and banking partners.

The site has grown during the pandemic and says it has 130 million users.

"In order to ensure the long-term sustainability of our platform, and continue to host an inclusive community of creators and fans, we must evolve our content guidelines," OnlyFans said in a statement.

The London-based social media site enables its creators to post nude videos and photos and charge subscribers for tips or a monthly fee.

Creators can post a range of content from cooking to fitness videos, but it is best known for pornography.

In return for hosting the material, OnlyFans takes a 20% share of all payments.

"We will be sharing more details in the coming days, and we will actively support and guide our creators through this change in content guidelines," the company said.

"OnlyFans remains committed to the highest levels of safety and content moderation of any social platform. All creators are verified prior to being able to upload any content to OnlyFans, and all uploaded content is checked by automated systems and human moderators."

The site, founded in 2016 by Essex businessman Tim Stokely, has come under fire in the past after a BBC News investigation found under-18s had used fake identification to set up accounts on the site. In June, BBC News found that under-18s sold explicit videos on the site, despite it being illegal for people to share indecent images of children.

After the BBC investigation, the children's commissioner for England said OnlyFans needed to do more to stop underage users. In response to the investigation, OnlyFans said it had closed the accounts flagged and refunded all active subscriptions.

In July, the company's first monthly transparency report said that it deactivated 15 OnlyFans accounts after finding indecent images of children on those accounts.