Posted on 10/10/2022 11:35:01 AM PDT by Red Badger
October 10, 2022: Shares in PayPal are off more than 6% in early Monday trading after a massive internet campaign to cancel accounts went viral in response to the company's now-reversed policy that would fine users $2,500 if they were to allegedly promote "misinformation" or "hate."
The company backpedaled on the line in their user agreement, which stated that for each violation, PayPal says users are subject to repercussions. Those include “liquated damages” of $2,500 per violation - with the money being taken directly from a person’s PayPal account.
Users were directed to PayPal’s user agreement, which states in part that PayPal can take a number of actions if users participate in restricted activities, such as holding their money in balance indefinitely. It also says that “you will be liable to PayPal for the amount of PayPal’s damages caused by your violation of the Acceptable Use Policy” at the amount of $2,500 per violation.
After outrage ensued, PayPal then insulted everyone's intelligence - claiming the $2,500 penalty - which would have definitely gone through legal review - went out "in error" and "included incorrect information."
“An AUP notice recently went out in error that included incorrect information. PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy,” a PayPal spokesperson told The Epoch Times in an email.
“Our teams are working to correct our policy pages. We’re sorry for the confusion this has caused,” the spokesperson added.
In response, a flood of people canceled their PayPal accounts.
LOLZ.
They really don’t know their customers - and more importantly, don’t care about their customers.
What a weird way of saying they posted a loss.
ouch ‘per violation’
Remember these fascists.
Somebody is getting fired. We won’t hear about it, but someone is. I guarantee it.
Ha! Ha!
As usual, the Arrogance/Ignorance of the Left ends up boomeranging on their Fascist attempts to control
Actually they didn’t walk it back they just changed the wording. What they would have called “misinformation” they will now just call “intolerance” all to the same effect. The $2,500 fines are still there. People should avoid them like the plague.
I also have a Venmo app that I can use as it seems to do the same kind of thing and many people are already using it.
Hopefully Venmo is not afflicted with the same "woke" crap.
Stockholders need to make sure officers are fired over this.
I wish, for the management of Paypal, shame, coerced poverty, and lifelong unemployment.
Seriously, how stupid are these CEOs? Who “advises” them?
Stockholders: make sure all of them get their woke asses FIRED
The left needs to be careful...misinformation is defined by those in power. It can boomerang quickly.
Wait! So PayPal sent out misinformation about misinformation, then sent out a followup on misinformation that was it self more misinformation?
They deserve to go out of business.
F’ em. I need to hear no more mealy mouthed excuses. I only used PayPal for maybe a thousand or so a year. That’s gone as of yesterday. I’ll never miss it.
Venmo is PayPal
Who defines “misinformation”?
“It’s a beautiful thing, the destruction of words.”
― George Orwell, 1984
The person who said, “I got an idea” and the person who gave the go ahead - gone.
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