Paypal losing customers at an alarming rate, even as it blacklists Hong Kong pro-democracy group
In the past few days there have been some unconfirmed Twitter posts claiming Paypal has reinstated its proposed policy to confiscate $2,500 from any account that spreads “misinformation.”
These reports are not quite accurate. Paypal leaves itself the option to confiscate money from customers, but it has not directly reinstated its policy of doing so for spreading “misinformation.” Instead it makes that justification harder to find and difficult to pin down, though it apparently still exists.
While Paypal’s current Acceptable Use Policy contains no mention of “misinformation,” its user agreement essentially does—and has since at least February 12, 2022. The agreement reads that PayPal users may not “provide false, inaccurate or misleading information,” in connection with PayPal, its website, services, or “third parties.” Those who do so may see their accounts suspended, limited, or closed, and PayPal may take legal action.
In short, no surprise changes have been made to PayPal’s policy this week. While the company does levy punishments toward users for certain forms of “misleading statements” under its user agreement (and has for months), a $2,500 fine is not explicitly one of them.
And yet, should anyone trust Paypal with their savings? Its reputation for blacklisting conservatives and pro-liberty organizations says otherwise, and that reputation was confirmed last month when Paypal terminated without explanation the account of a pro-democracy group in Hong Kong.
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In the past few days there have been some unconfirmed Twitter posts claiming Paypal has reinstated its proposed policy to confiscate $2,500 from any account that spreads “misinformation.”
These reports are not quite accurate. Paypal leaves itself the option to confiscate money from customers, but it has not directly reinstated its policy of doing so for spreading “misinformation.” Instead it makes that justification harder to find and difficult to pin down, though it apparently still exists.
While Paypal’s current Acceptable Use Policy contains no mention of “misinformation,” its user agreement essentially does—and has since at least February 12, 2022. The agreement reads that PayPal users may not “provide false, inaccurate or misleading information,” in connection with PayPal, its website, services, or “third parties.” Those who do so may see their accounts suspended, limited, or closed, and PayPal may take legal action.
In short, no surprise changes have been made to PayPal’s policy this week. While the company does levy punishments toward users for certain forms of “misleading statements” under its user agreement (and has for months), a $2,500 fine is not explicitly one of them.
And yet, should anyone trust Paypal with their savings? Its reputation for blacklisting conservatives and pro-liberty organizations says otherwise, and that reputation was confirmed last month when Paypal terminated without explanation the account of a pro-democracy group in Hong Kong.
» Read more