PayPal says policy to punish users for misinformation was 'in error'
Despite the retraction, the crypto community said the policy is a perfect example of why decentralization and self-custody of funds are so important. Online payment network PayPal has reneged on a controversial policy that could’ve seen users fined $2,500 for spreading “misinformation,” with the payment platform claiming the policy update was published “in error.”The now retracted misinformation clause in PayPal’s Acceptable Use Policy (AUP) was set to take effect on Nov. 3, which would have expanded on its list of prohibited activities to include “the sending, posting, or publication of....
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A new Paypal user policy that permits the company to fine users $2,500 for spreading “misinformation” has caused quite a stir on social media platforms. After November 3, anyone who posts or publishes information or content to “promote misinformation” will be subject to the penalty.
Editor’s note: This article was updated to reflect that Paypal has retracted the user policy information after the social media backlash. The company said: “An AUP notice recently went out in error that included incorrect information.” The last....
PayPal is a popular payment gateway that offers a suitable payment solution for individuals and businesses. Using PayPal, users can pay bills, accept payments, send and receive money, and do more. They perform these transactions through mobile apps, the web, or in person. The online payment platform issued a punishment policy to users. The policy […]
Since September, an increasing number of bitcoin startups and exchange have begun offering bitcoin-to-paypal payment processing services, allowing users to send bitcoin to international paypal accounts with substantially low transaction and conversion fees. Exchanges such as Bitwala, leading European bitcoin payment company have introduced secure and quick bitcoin-to-paypal transfer service, with service fees ranging from 0.5% to 4%. "For only 0.5% fee we transfer Bitcoin to PayPal accounts you want. You don't need a bank account or a credit card. Bitcoin makes services like PayPal....
When looking at all of the changes combined - which go into effect on March 29 - it is evident PayPal becomes a far less appealing payment solution. PayPal is making quite a few changes to their user policy moving forward. As one would come to expect, these changes will affect sellers accepting online payments in a rather negative way. Buyers will also pay a bit more money to use the service moving forward. All things considered, these changes will make this service seem far less appealing, that much is certain. Sending money around the world with existing payment solutions is not a cheap....
Paypal has begun letting users transfer cryptocurrencies between its platform and other wallets and exchanges. “This feature has been consistently ranked by users as one of the most requested enhancements since we began offering the purchase of crypto on our platform,” Paypal revealed.
Paypal Now Supports External Wallet Transfers
Payments giant Paypal finally allows users to transfer cryptocurrencies in and out of its platform. The company announced Tuesday:
We are thrilled to announce that starting today, Paypal supports the native transfer of....