Despite myriad fact checkers running defence for Paypal, their Acceptable Use Policy (AUP), at least in Australia, still prohibits 'sending, posting or publication of any messages, content or materials that, in Paypal's sole discretion...promote misinformation' (s 5).
Further, the Paypal User Agreement (UA) - the terms of service that binds all customers - forces you to agree that you, the customer, are responsible for damages to PayPal for any violations of the AUP.
In early October, a USD$2,500 fine clause was added to the UA and forced agreement that USD$2,500 is reasonable liquidated damages. PayPal further states that they can withhold funds, or debit you directly (do you have credit cards and bank accounts linked to your PayPal account?) to collect those damages.
Under intense media pressure, stock drops, and customer churn, PayPal came out and declared it an error of the typo variety. ie completely unintended and not meant to be published, ever. The $2,500 fine was removed from the UA.
In late October PayPal added the USD$2,500 fine back into the UA, which we sighted here at Discernable on 27/10/22.
Once again media across the globe reported on the return of the 'misinformation fine'.
Today 28/10/22 PayPal has come out denying its reintroduction, it has again been removed from their UA, and factcheck outlets are in overdrive supporting PayPal.
As of today, the UA carries the original line - that customers are responsible for unspecified amount of damages if they break the AUP, which still contains the misinformation clause.
The risk for a media company like ours amplifying so many different voices (guests) is too great so we tried to delete our accounts, personal and business.
Of course, that's impossible too due to a widely reported 'technical issue' from users around the world trying to close their accounts.
We have transitioned all of our incoming subscription revenue streams away from PayPal and look forward to deleting them from our business, our personal lives and our memory.
May they rot in corporate hell.
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The current PayPal Acceptable Use Police (Au)
https://www.paypal.com/au/legalhub/acceptableuse-full
The current PayPal User Agreement (Au)
https://www.paypal.com/au/webapps/mpp/ua/useragreement-full?locale.x=en_AU