OCTOBER 11, 2022
The California-based company said the new update ‘included incorrect information’ (Picture: Reuters/Thomas White)
Paypal has gotten into trouble with customers over a new misinformation policy that it introduced and rolled back immediately.
The new policy in the payment company’s fine print said that it would fine users $2,500 for misinformation, starting November 3.
On Monday, PayPal backtracked and said that the earlier policy was ‘sent in error’.
The California-based company said the new update ‘included incorrect information’ and sparked intense backlash on social media over the weekend.
‘PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy. We’re sorry for the confusion this has caused,’ a spokesperson for the company said.
Last week, PayPal published a policy update prohibiting customers from using its services for activities identified by it as ‘sending, posting, or publication of any messages, content, or materials’ promoting misinformation.
This did not go down well with right-wing voices who fear that tech companies are targeting them due to their political views.
PayPal quickly apologized for the ‘confusion’ after the hashtag #PayPalCancelled started trending on Twitter.
The policy received criticism from a number of high-profile individuals, including the company’s own former president, David Marcus.
‘A private company now gets to decide to take your money if you say something they disagree with. Insanity.’ tweeted Marcus.
Elon Musk, the billionaire Tesla chief who co-founded PayPal, tweeted ‘Agreed’, replying to Marcus’s tweet.
