Paypal to fine users $2,500 for spreading “false information”!

Paypal’s new user policy, which allows the company to fine users $2,500 for spreading “false information“, has caused a stir on social networks. After November 3, anyone who publishes information or content aimed at “promote misinformation” will be subject to the penalty.

The new clause in Paypal’s user agreement states that it can take $2,500 away from users who spread “false information.”

Payment services company Paypal is reportedly planning to update its user agreement with a new clause that combats “misinformation“. A new update added to the restricted activities section of Paypal’s user agreement shows that people who post or publish hate speech or disinformation “may subject you to damages, including liquidated damages of $2,500.00 USD per violation, which may be charged directly to your Paypal account“. The Daily Wire first discovered the upcoming Terms of Service (ToS) agreement.

Prohibited acts include “sending, posting or publishing any message, content or material“which”promotes misinformation“, the payment company warned. Naturally, the news was not well received by the general public, and a significant number of posts on social media criticized Paypal’s decision to implement the new user agreement. Canadian lawyer David Anber wrote to: “[Hey Paypal] you have 30 days to explicitly renounce this abomination of a policy or I will permanently close my account as I’m sure millions of others have. Your subjective opinions on ‘misinformation’ or ‘discrimination’ do not entitle you to your customers’ money.“

Close you PayPal account. Their new Policy allows them to deduct $2500 from your account for misinformation.

– Tim Kennedy (@TimKennedyMMA) October 8, 2022

In addition, the Paypal news caught the attention of Tesla executive Elon Musk. When one individual wrote that the ToS news was “disturbing” and that “that is why we need the X platform more than ever“, Musk responded to “100%.” Bitcoin supporters, of course, took to their Twitter handles and exclaiming that “bitcoin fixes that“. A large number of people on social media begged other people to “close their paypal accounts” and “boycott“the payment services company.

💯

– Elon Musk (@elonmusk) October 8, 2022

A new PayPal policy update appears to authorize the company to pull up to $2500 from the accounts of users who spread “misinformation.”

That’s theft surely.

– Sophie Corcoran (@sophielouisecc) October 8, 2022

“Paypal’s new policy allows it to remove $2,500 from users’ accounts for promoting ‘disinformation,’ Biden administration facilitated government spying on Americans, FBI behaves like the KGB“, Pedro Gonzalez wrote Saturday. “Venmo is owned by Paypal which is owned by Ebay. Get out of these 3 companies as soon as possible“, said another person. tweeted. A number of people have asked how Paypal decides what is a “misinformation” or not, and many people have stated that the current era is akin to a communist regime. One person wrote to:

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 themselves to assess monetary fines for bad behavior. Welcome to the Soviet Union.

– Rick’s Cafe Americain (@DarrellBenefiel) October 8, 2022

Paypal’s long history of withholding funds and censoring financial transactions

Paypal has long been accused of censorship and choosing sides based on its own subjective assessments and, of course, government orders. In late July of last year, Paypal revealed that it had partnered with the nonprofit Anti-Defamation League (ADL) and said it planned to investigate financial transactions that funded extremism and anti-government groups.

Is PayPal gonna take $2,500 from everyone who said The Laptop From Hell was Russian disinformation?

– Vince Langman (@LangmanVince) October 8, 2022

In 2010, Paypal and a number of other financial giants blocked Wikileaks from receiving donations, which pushed Julian Assange and the nonprofit into bitcoin. In 2019, Paypal cut off links to sex workers who used the adult web portal Pornhub, and at the time 100,000 adult performers were left high and dry. In 2020, Paypal merchants who sold products associated with eight-legged micro animals called tardigrades or “moss piglets” had problems with the payment processor because the name tardigrade was used by a Balkan arms dealer.

PayPal has a new policy where they can just take $2500 from the account of people that they deem spread “misinformation”.

Retweet if you are boycotting PayPal👍

– PeterSweden (@PeterSweden7) October 8, 2022

According to Eric July, owner of Rippaverse Comics two months ago, Paypal gave him major problems when he sold Rippaverse comics using Paypal and credit cards. At the time, $1.2 million had been placed on hold by Paypal, and on October 6, July said that after making a mistake by only refunding him half the funds, “the other half was released” and “there has been no official statement from Paypal as to why.“After huge hassle, July recovered”all the funds originally held” and he further noted that his company “would never use Paypal again.“

Comic book owner Rippaverse added:

.@PayPal @AskPayPal has stolen your money if you used it as a processor to pay for @TheRippaverse items.
Video: https://t.co/SVpWH7QwDy pic.twitter.com/e53peukMsH

– Eric July (@EricDJuly) July 23, 2022