PayPal says it will not fine users $2,500 for spreading misinformation, even though an updated user agreement from the company indicates that they wanted to at some point.
A PayPal spokesperson confirmed that the new user agreement was sent out in error. They really don’t intend to fine users for incorrect information. But the terms of service says this:
“You may not use the PayPal service for activities that … involve the sending, posting, or publication of any messages, content, or materials that, in PayPal’s sole discretion … promote misinformation.”
PayPal’s sole discretion? They decide what is acceptable to say now? The terms said that PayPal could liquidate damages of $2,500 per violation, withdrawing the money directly from your account! They have links to your bank accounts! Or at least they did until I read this story and unliked all of my accounts! Same with Venmo.