PayPal $2500 Fine Misinformation
This month, PayPal changed a part of its policy that said spreading false information on the platform would result in a $2,500 fine. This was done after the policy was criticised.
Today, the remaining language makes it hard for users and elected officials to understand how the platform decides what kind of speech is acceptable.
According to the website's archive, this part of PayPal's user agreement has been in place since at least 2013.
It states that a customer will be subject to a fine of $2,500 if they violate the "approved usage" guideline of the platform.
Most users didn't know about the fine until this month, when PayPal updated its acceptable use policy to say "fraudulent, misleading, or unlawful" messages are fined.
The "acceptable use" policy said that "PayPal's sole discretion" would be used to decide which messages broke the policy.
The company withdrew the phrase from the policy on Monday, October 10, and claimed it was written in error because it was based on false information.
A company representative said, "PayPal does not fine people for giving false information, and this language was never meant to be in our policy."
People are being asked on Twitter with the hashtags #PayPalCancelled and #DeleteVenmo
to get rid of their PayPal accounts because of this.