Paypal’s new usage policy, which allows the company to fine users up to $2,500 for posting “incorrect information“, caused a strong emotion on social networks. After November 3, anyone posting information or content intended to “promote misinformation” will be subject to the penalty.
The new clause in Paypal’s user agreement states that it can withdraw $2,500 from users who spread “false information”.
The payment service company Paypal plans to update its user agreement by adding a new clause that fights against “disinformation“. A new update added to the Restricted Activities section of Paypal’s User Agreement shows people posting or publishing hate speech or misinformation”may expose you to damages, including a lump sum of US$2,500.00 per violation, which can be debited directly from your PayPal account“. The daily thread discovered for the first time the next terms of service agreement (ToS).
Prohibited acts include “sending, posting or publishing any message, content or material” That “promotes disinformation‘ warns the payment company. Of course, the news was not well received by the general public, and a significant number of social media posts criticized Paypal’s decision to implement the new user agreement. Canadian lawyer David Anber wrote to: “[Hey Paypal] you have 30 days to explicitly opt out of this abomination of this policy or i will close my account permanently like millions of others i am sure. Your subjective views of “misinformation” or “discrimination” do not entitle you to your customers’ money.”
Close your PayPal account. Their new policy allows them to deduct $2500 from your account for misinformation.
— Tim Kennedy (@TimKennedyMMA) October 8, 2022
Moreover, the Paypal news caught the attention of Tesla executive, Elon Musk. When one person wrote that the ToS news “worry” and “that’s why we need the X platform more than ever“, Musk replied to “100%.” Bitcoin proponents of course took their Twitter handles and exclaiming Which “bitcoin solves this“. Lots of people on social media begged other people from “close their PayPal accounts” and from “boycottthe payment services company.
— Elon Musk (@elonmusk) October 8, 2022
A new PayPal policy update appears to authorize the company to collect $2,500 from the accounts of users who spread “misinformation.”
That is definitely theft.
— Sophie Corcoran (@sophielouisecc) October 8, 2022
“Paypal’s new policy allows it to withdraw $2,500 from user accounts for promoting “disinformation”, Biden’s administration facilitated government spying on Americans, FBI acting like KGB“, Pedro Gonzalez wrote Saturday. “Venmo is owned by Paypal, which is owned by Ebay. Get out of these 3 companies as soon as possible‘ said another. tweeted. A number of people have asked how Paypal decides what a “disinformationor not, and many people said that the current era is akin to a communist regime. A person wrote to:
And who decides what “misinformation” is? Why, PayPal, of course. I’m sure they will be honest. Twitter will restrict your account if they don’t like what you post. Paypal has authorized itself to impose monetary fines for bad behavior. Welcome to the Soviet Union.
— Rick’s Cafe Americain (@DarrellBenefiel) October 8, 2022
Paypal’s Long History of Withholding Money and Censoring Financial Transactions
Paypal has long been accused of censoring and choosing sides based on its own subjective assessments and, of course, state warrants. In late July last year, Paypal announced that it was partnering with the nonprofit Anti-Defamation League (ADL) and said it plans to study the financial transactions that funded the extremism and anti-government groups.
Is PayPal going to take $2,500 from everyone who said The Laptop From Hell was Russian disinformation?
— Vince Langman (@LangmanVince) October 8, 2022
In 2010, Paypal and a number of other financial giants blocked Wikileaks from receiving donations, pushing Julian Assange and the nonprofit to the bottom. bitcoin. In 2019, Paypal break ties to sex workers using the adult web portal Pornhub, at which point 100,000 adult performers were stranded. In 2020, Paypal merchants selling products related to eight-legged micro-animals, tardigrades, or “moss pigletshad problems with the payment processor because the name tardigrade was used by an arms dealer from the Balkans.
PayPal has a new policy where they can simply take $2500 from people who they believe are spreading “misinformation”.
Retweet if you boycott PayPal👍
—PeterSweden (@PeterSweden7) October 8, 2022
According to Eric July, owner of Rippaverse Comics two months ago Paypal gave him important business when he sold Rippaverse comics with Paypal and credit cards. At the time, $1.2 million had been put on hold by Paypal, and on October 6, July said that after making a mistake in refunding her only half of the money, “the other half is unlocked” and “there is no official statement from Paypal as to why.‘You have recovered after enormous hassle’all funds originally held” and he further pointed out that his company “would never use paypal again.”
The Rippaverse comic owner added:
.@PayPal @AskPayPal stole your money if you used it as a processor to pay for @TheRippaverse articles.
Video: https://t.co/SVpWH7QwDy pic.twitter.com/e53peukMsH
— Eric July (@EricDJuly) July 23, 2022