Re: New Paypal Policy Lets Firm Fine Users $2,500 for Spreading 'Misinformation,' ToS Condemned and Called an 'Abomination'

In article <876b50d9-a97e-4f1c-a800-
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[email protected] wrote:
>
> Looks like it's time to cancel paypal.
> I just deleted my cards from the paypal account.
>

A new Paypal user policy that permits the company to fine users 
$2,500 for spreading “misinformation” has caused quite a stir on 
social media platforms. After November 3, anyone who posts or 
publishes information or content to “promote misinformation” 
will be subject to the penalty.

Editor’s note: This article was updated to reflect that Paypal 
has retracted the user policy information after the social media 
backlash. The company said: “An AUP notice recently went out in 
error that included incorrect information.” The last paragraph 
in this article contains the full statement from Paypal 
concerning the user policy.

Paypal’s New User Agreement Clause Says It Can Pull $2,500 in 
Funds From Users That Spread ‘Misinformation’
The payments services corporation Paypal reportedly plans to 
update its user agreement with a new clause added that fights 
against so-called “misinformation.” A new update added to the 
restricted activity section of Paypal’s user agreement shows 
that people who post or publish hate speech or misinformation 
“may subject you to damages, including liquidated damages of 
$2,500.00 U.S. dollars per violation, which may be debited 
directly from your Paypal account.” The Daily Wire first 
discovered the upcoming terms of service (ToS) agreement.

The prohibited acts include “the sending, posting, or 
publication of any messages, content, or materials” that 
“promote misinformation,” the payments company warns. Of course, 
the news wasn’t taken too kindly by the general public, and a 
significant number of social media posts critized Paypal’s 
decision to implement the new user agreement. Canadian lawyer 
David Anber wrote: “[Hey Paypal] you have 30 days to explicitly 
renounce this abomination of a policy or I am permanently 
closing my account as will millions of others I am sure. Your 
subjective views on ‘misinformation’ or ‘discrimination’ don’t 
entitle you to your clients’ money.”


Moreover, the Paypal news caught the attention of Tesla 
executive Elon Musk. When an individual wrote that the new ToS 
news was “worrying” and “that’s why we need the X platform more 
than ever,” Musk responded “100%.” Bitcoin supporters, of 
course, took to their Twitter handles and exclaimed that 
“bitcoin fixes this.” A great number of people on social media 
begged others to “close their Paypal accounts” and “boycott” the 
payment services company.


“Paypal’s new policy lets it pull $2,500 from user accounts for 
promoting ‘misinformation,’ the Biden administration made easier 
for the government to spy on Americans, the FBI is acting like 
the KGB,” Pedro Gonzalez wrote on Saturday. “Venmo is owned by 
Paypal which is owned by Ebay. Pull away from all 3 ASAP,” 
another person tweeted. A number of individuals asked how Paypal 
decides what information is “misinformation” or not, and people 
many said current times are akin to a communist regime. One 
person wrote:

And who decides what “misinformation” is? Why, Paypal, of 
course. I am sure they will be fair. Twitter will restrict your 
account if they don’t like what you post. Paypal has authorized 
[itself] to assess monetary fines for bad behavior. Welcome to 
the Soviet Union.


Paypal’s Long History of Holding Back Funds and Censoring 
Financial Transactions
Paypal has been accused of censorship for a long time now and 
picking and choosing sides based on the firm’s own subjective 
valuations and of course, state orders. At the end of July last 
year, Paypal revealed it partnered with the nonprofit 
organization the Anti-Defamation League (ADL) and said it 
planned to study financial transactions that funded extremism 
and anti-government groups.


In 2010, Paypal and a number of other financial giants blocked 
Wikileaks from getting donations, and it pushed Julian Assange 
and the non-profit toward bitcoin. In 2019, Paypal shut off ties 
to sex workers leveraging the adult web portal Pornhub, and at 
the time 100,000 adult performers were left stranded. In 2020, 
Paypal merchants who sold products associated with the eight-
legged micro-animals called tardigrades or “moss piglets” had 
issues with the payment processor because the name tardigrade 
was used by a Balkan arms dealer.


According to Eric July, owner of Rippaverse comics, two months 
ago Paypal gave him significant issues when he sold Rippaverse 
comics using Paypal and credit cards. At the time, $1.2 million 
was put on hold by Paypal and on October 6, July said that after 
making an erroneous error of only paying him back half of the 
funds, “the other half was released,” and “there was no official 
statement from Paypal as to why.” After a huge hassle, July got 
back “all of the initially held funds” and he further stressed 
that his firm would “never be using Paypal again.”

The Rippaverse comics owner added:

It’s a piece of sh*t company and I recommend that small business 
owners especially avoid using them.

Paypal Claims New User Policy Went Out in Error
On October 8, a Paypal spokesperson explained to the National 
Review that the user policy notice shared wildly on Twitter and 
publications, was a mistake. “An AUP notice recently went out in 
error that included incorrect information,” the Paypal 
spokesperson insisted. “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’re sorry for the confusion this has caused.”

TAGS IN THIS STORY
$2500 fine, Anti-Defamation League (ADL), Balkan arms dealer, 
Censorship, Communist Regimes, Daily Wire, Elon Musk, Elon Musk 
reply, Eric July, Free Speech, hate speech, Julian Assange, 
misinformation, Paypal, Paypal company, Paypal policy, PayPal 
User policy, Pedro Gonzalez, Porn hub, Rippaverse Comics, Soviet 
Union, Tardigrades, user policy, Wikileaks
What do you think about the controversy surrounding Paypal’s 
upcoming ToS agreement that says it can fine accounts for 
spreading misinformation? Let us know what you think about this 
subject in the comments section below.

https://news.bitcoin.com/new-paypal-policy-lets-firm-fine-users-
2500-for-spreading-misinformation-tos-condemned-and-called-an-
abomination/

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