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.
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.”
Close you PayPal account. Their new Policy allows them to deduct $2500 from your account for misinformation.
— Tim Kennedy (@TimKennedyMMA) October 8, 2022
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.
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,…
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