PayPal became a hot topic on social media for making changes to its users’ policy. It is going to punish users for carrying out misinformation on the updated policy. The users have to pay a fine of $2,500 (USD) for creating fake news. But the company stated that the statement was released by mistake. The organization is taking the steps to delete the policy from the users’ agreement or to reverse it.
Many critics have posted online about how the company took a huge step by imposing such a large fine on its own PayPal users.
As per the updated version of the PayPal users agreement, it states that damage caused by spreading misinformation results in “liquidated damages for $2,500” that is going to be directly withdrawn from the users’ accounts.
The Updated Terms And Conditions Of PayPal
- It is required to maintain both a PayPal business account and a PayPal Zettle account.
- The delivery terms and conditions of the PayPal Zettle will be applicable to the purchase.
- It also expanded restricted activities like “ending, posting, content, or publication of messages or materials that meet certain criteria.”
“You may not use the PayPal service for activities that involve the sending, posting, or publication of any messages, content, or materials that, in PayPal’s sole discretion, promote misinformation.”
Todd Zywicki, a famous personality from George Mason University, tweeted that “PayPal wants us to believe its misinformation AUP was just a mistake.” He also stated that the institution recently seized a large number of users in the UK. Later, the institution stated that it happened by mistake. Many famous twitter users questioned how a private entity could make such a large decision to pay $2,500 (USD) for spreading misinformation about new updated users’ policy.
In a press conference, the spokesperson for PayPal stated that the AUP notice was sent out by mistake. The company reassured the users by saying that PayPal is not going to fine any amount on users’ accounts.
He furthermore added, “PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy. Our teams are working to correct our policy pages. We are sorry for the confusion this has caused.”
Source: https://www.thecoinrepublic.com/2022/10/10/paypal-is-not-going-to-fine-users-for-carrying-out-misinformation/