November 2, 2022

WORLD: ‘Fact Checkers’ Called It ‘Misinformation.’ But PayPal Sneaked $2,500 Fines on Users Back into Its Terms of Service. PayPal (PYPL) Stock Price Is Down Over 55% Year-To-Date.

TD Ameritrade Network published October 31, 2022: PayPal (PYPL): Consumer Outrage With Their Terms Of Use. PayPal (PYPL) stock price is down over 55% year-to-date. “Just 2 weeks ago, PayPal comes out with a $2,500 fine for spreading ‘misinformation’ according to their terms of use. The world response was insurmountable and the fintech company had to retract and apologize. Earlier this week, customers are still seeing this fine in PayPal’s terms of service. Consumer happiness social media mentions plummeted following this PR disaster. Now, PayPal (PYPL) is lagging in this category as Shopify (SHOP) and Block (SQ) are taking lead. The Google Search term of ‘PayPal alternative’ has increased recently,” says LikeFolio’s Andy Swan. Tom White and Kevin Hincks weigh in on the polarizing PayPal’s views of free speech.
Timcast IRL published October 27, 2022: PayPal Will STILL FINE YOU $2500 For Hate Speech, They Never Got Rid Of It
๐Ÿšจ๐Ÿ‘‡ THEN THE LEFTIST GOES ON TO SPREAD MISINFORMATION ๐Ÿ‘‡๐Ÿšจ All he needed to do was LOOK at Paypal's User Agreement. (emphasis mine)
๐Ÿšจ๐Ÿ‘‡ What he fails to understand is that Paypal ADDED "misinformation" to restricted activities. ๐Ÿ‘‡๐Ÿšจ so yeah Paypal had this fine for over a decade, but you wouldn't be fined for "misinformation" until now. CLICK HERE to read the Paypal User Agreement restricted activities for yourself. But people that most likely get paid by the Left to push this bullshit will not get censored at all or face any consequences for deliberately lying to the public. (emphasis mine)
Becker News
written by Kyle Becker
Friday October 28, 2022

‘Woke’ digital banking corporation PayPal effectively called it ‘misinformation’ when users got a hold of its user agreement that it would fine users $2,500 per violation directly from their accounts with no due process.

Numerous ‘fact checkers’ posted misleading ‘fact checks’ about PayPal, adding to the irony, based only on a statement by the corporation denying the fines, and saying the revised terms of service were posted in error.

“No, PayPal Isn’t Planning To Fine Users $2.5K for Posting Misinfo,” Snopes chided. “Here’s what you should know about a since-deleted document supposedly outlining changes to the platform’s user agreement.”

“However, users concerned about the purported change can relax; no such provision about misinformation is actually being added to the service’s User Agreement, according to a PayPal spokesperson,” Snopes said. “In an email to Snopes, the spokesperson said the document didn’t accurately reflect upcoming changes to the platform’s policies.”

Reuters also got in on the fact checking action while noting that numerous users were deleting their accounts.

“Social media users are saying they will be deleting their PayPal account after the company said on Monday that they issued an update saying that customers could be fined $2,500 in damages for sharing misinformation ‘in error’,” Reuters wrote.

“Some continued to share the claim after PayPal’s clarification (here), (here),” Reuters continued.

“On October 10, Reuters reported a spokesperson for the company saying, ‘Paypal is not fining people for misinformation and this language was never intended to be inserted in our policy. We’re sorry for the confusion this has caused’.”

So, all of these fact checkers are misleading their readers by leaving up these ‘fact checks,’ given that the user agreement as of October 27 clearly states that PayPal will fine users for ‘misinformation.’ (No word yet on if PayPal plans to fine Snopes or Reuters.)

Here are terms from the user agreement that are among those that are a definite cause for concern. PayPal states that “[i]n connection with your use of our websites, your PayPal account, the PayPal services, or in the course of your interactions with PayPal, other PayPal customers, or third parties, you must not”:
  • Breach this user agreement, the PayPal Acceptable Use Policy, the Commercial Entity Agreements (if they apply to you), the PayPal Balance Terms and Conditions (if it applies to you), or any other agreement between you and PayPal;
  • Violate any law, statute, ordinance, or regulation (for example, those governing financial services, consumer protections, unfair competition, anti-discrimination or false advertising);
  • Infringe PayPal’s or any third party’s copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy;
  • Sell counterfeit goods;
  • Act in a manner that is defamatory, trade libelous, threatening or harassing;
  • Provide false, inaccurate or misleading information;
  • Refuse to cooperate in an investigation or provide confirmation of your identity or any information you provide to us;
  • Control an account that is linked to another account that has engaged in any of these restricted activities;
  • Conduct your business or use the PayPal services in a manner that results in or may result in; complaints;
  • Allow your PayPal account to have a negative balance;
  • Access the PayPal services from a country that is not included on PayPal’s permitted countries list;
  • Take any action that imposes an unreasonable or disproportionately large load on our websites, software, systems (including any networks and servers used to provide any of the PayPal services) operated by us or on our behalf or the PayPal services;
The $2,500 fine is also listed in its “Acceptable Use Policy”: “You are independently responsible for complying with all applicable laws in all of your actions related to your use of PayPal’s services, regardless of the purpose of the use. In addition, you must adhere to the terms of this Acceptable Use Policy. Violation of this Acceptable Use Policy constitutes a violation of the PayPal User Agreement and 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(s) as outlined in the User Agreement.”

It will be interesting to see if PayPal again disputes the terms that are posted on its own website and claims that they are “misleading.” Once again, it is a hallmark of being “Woke” corporation to exempt oneself from the complaints and accusations that one makes against others.


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