PayPal Apologizes For Saying Users Could Face Fines

An apology was issued by PayPal for publishing a policy change that would charge users $2,500 for "misinformation."

In a widely reported statement, PayPal stated that its acceptable use policy had been published in error, and that it didn't intend to include the language in its policy.

Venmo, another PayPal service, did not respond to a comment request.

PayPal's former president, David Marcus, took to Twitter to criticize the company, and Elon Musk replied, "agreed."



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In the past few days, the hashtag "BoycottPayPal" has been trending on Twitter.

On Friday, PayPal's shares slumped over 4% and have fallen 52% for the year. Shares of PayPal fell by 1% in premarket trading.

10-10-2022

Categories: news


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