PayPal backtracks on policy that would have fined users for ‘misinformation’ following backlash
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PayPal has reversed its policy to fine users $2,500 for spreading misinformation after being criticized even by the company’s former president.
The financial services provider claimed to the National review the changes to the acceptable use policy were sent ‘incorrectly’.
“Recently, an AUP message was erroneously sent out containing incorrect information,” the spokesperson said.
“PayPal doesn’t penalize people for misinformation, and it was never intended to be part of our policies.
“Our teams are working to correct our policy pages,” they noted, adding, “We’re sorry for the confusion this has caused.”
The apparent turnaround comes just one day after former president David Marcus criticized the online payment company for the implication that it could confiscate customers’ money because it would find their views objectionable.
“It’s hard for me to openly criticize a company I loved and gave so much to,” he tweeted on Saturday. “But @PayPal’s new AUP goes against everything I believe in.
“A private company can now decide to take your money if you say something you don’t agree with. Insanity.’
Tesla CEO Elon Musk was quick to reply that he “agreed” in a tweet that garnered more than 27,400 likes.
PayPal has followed its policy to fine users $2,500 for spreading ‘misinformation’, saying the changes to the acceptable use policy were sent ‘incorrectly’
The move was criticized by even the company’s former president, David Marcus, who said it goes against everything he believes in, calling it madness.
Tesla CEO Elon Musk was quick to reply that he “agreed” in a tweet that garnered more than 27,400 likes.
The new policy was originally supposed to be added to the Restrictive Activities section of the new PayPal User Agreement on November 3. daily thread originally reported.
Changes include bans on “sending, posting or publishing any message, content or materials” that “promote misinformation.”
What constitutes “misinformation,” the AUP said, would be the company’s “exclusive discretion.”
And while the original policy already banned “hate, intolerance and discrimination”, the new policy would have added protections for specific “protected groups” and individuals or groups based on protected characteristics” such as race, religion, gender or gender identity and sexual orientation.
It remains unclear whether PayPal will remove these protections, or if it’s just scrubbing the “misinformation” clause.
But according to the AUP sent out earlier this week, violating any of the new rules could subject you to damages, including a $2,500.00 US dollar lump sum per violation, which can be withdrawn directly from your PayPal account. written off’.
The company noted that as part of its user agreement, account holders must accept and confirm that the fine is “currently a reasonable minimum estimate of PayPal’s actual damages” because of the costs the company incurs by accounting for violations, as well as the damages. to his reputation.
The company has been reported to be censoring conservative voices under CEO Dan Schulman, pictured here in September
PayPal was originally founded in December 1998 by Max Levchin, right, and Peter Thiel, left, who has become a major donor to Republican candidates and “conservative” business ventures
PayPal was originally founded in December 1998 by Max Levchin and Peter Thiel, who have become major donors to Republican candidates and “conservative” business ventures.
But Ebay acquired the company in 2002, and under CEO Dan Schulman, the financial services company has become known for censoring or deplatforming organizations or individuals that promote conservative ideals.
Just days before PayPal accidentally announced its new policy, it canceled three accounts linked to Toby Young, a commentator who leads the nonprofit Free Speech Union, which champions customers like actor Russell Brand, who recently moved his show from YouTube to Rumble in response to censorship.
About a third of Free Speech Union members rely on PayPal to process their membership fees, the Daily Wire reports, and the company gave Young no explanation for the suspension, other than a violation of its acceptable use policy.
It later reinstated the accounts after criticism from lawmakers and apologized to Young for “the inconvenience caused.”
The company also recently banned Gays Against Groomers, a group of LGBT individuals fighting the sexualization and transition of minors.
And just minutes after the company made the decision, subsidiary Venmo reportedly blocked the organization from accessing the app as well.
Evolutionary biologist Colin Wright and journalist Ian Miles Cheong, who write about the dangers of transgenderism in minors, have also been removed from the platform.