Paypal institutes $2500 fine for anyone who promotes "misinformation" and then pulls the rule after massive public backlash. 8 8

[jsilverjanet]

there must be a big meeting in sarasota about qa issues

[Vixom]

On 10/10/2022 at 1:46 PM, VintageComics said:

The "fine" was for any Paypal user who used Paypal as a payment system and was deemed to be involved in "spreading misinformation".

This was to be determined at Paypal's SOLE DISCRETION.

So, completely ARBITRARY. 

The question is who in the WORLD is going to use Paypal now after they've shown to be this selfish and corrupt. 

Not me. I actually did use them. 0 percent interest and pay it off 6 months or year later with inflated money was useful. Soon as I have some cash freed up I am paying off my balance and closing my account. I don't believe their opps mistake story. 

[Vixom]

On 10/10/2022 at 3:25 PM, Yorick said:

Is there a good alternative to Paypal?  I never wanted to sign up there, but was obligated to when it became the only accepted payment method of ebay.

Cash, checks, gold, crypto, whatever you consider having value. Ebay used to be parent company or something of paypal. I would cancel them as well if I didn't get top dollar on many comics there. 

[Vixom]

For anyone closing Paypal account don't forget they own these brands as well. Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, Happy Returns by PayPal, Chargehound, Paidy and Simility

[jsilverjanet]

Paypal cancelled because they tried to cancel people who are against the cancel culture

[Lazyboy]

On 10/10/2022 at 12:46 PM, VintageComics said:

The "fine" was for any Paypal user who used Paypal as a payment system and was deemed to be involved in "spreading misinformation".

This was to be determined at Paypal's SOLE DISCRETION.

So, completely ARBITRARY. 

The question is who in the WORLD is going to use Paypal now after they've shown to be this selfish and corrupt. 

What do you mean now? What year is it in your world?

[ADAMANTIUM]

Maybe I'm missing the point. Miss information about what?

Using PayPal transactions is what I assumed, as it's the closest they could be an authority over, but if it's just in general? As in reportable because people have their freedom to speak "freely?" That is what I'm now realizing this thread is about but

Well I'll be! Bless their heart ❤️

[jaybuck43]

On 10/10/2022 at 7:05 PM, ADAMANTIUM said:

Maybe I'm missing the point. Miss information about what?

Using PayPal transactions is what I assumed, as it's the closest they could be an authority over, but if it's just in general? As in reportable because people have their freedom to speak "freely?" That is what I'm now realizing this thread is about but

Well I'll be! Bless their heart ❤️

I believe it would be going after people who sell solutions. So for instance there are several books that claim to tell you how to “cure” autism with a bleach solution or chelation. This is dangerous misinformation. (Children have died from parents following this information). So if I sold this stuff on my website (since Amazon has delisted these books) and use PayPal as a payment processor, they can “fine” me $2500 per instance, at their discretion. 
 

As I said earlier, theoretically good intention, but problematic without due process.

[Ken Aldred]

On 10/11/2022 at 12:24 AM, jaybuck43 said:

So for instance there are several books that claim to tell you how to “cure” autism with a bleach solution or chelation. This is dangerous misinformation. (Children have died from parents following this information).

As an Aspie, this is appalling to read. 

[ADAMANTIUM]

On 10/10/2022 at 6:24 PM, jaybuck43 said:

I believe it would be going after people who sell solutions. So for instance there are several books that claim to tell you how to “cure” autism with a bleach solution or chelation. This is dangerous misinformation. (Children have died from parents following this information). So if I sold this stuff on my website (since Amazon has delisted these books) and use PayPal as a payment processor, they can “fine” me $2500 per instance, at their discretion. 
 

As I said earlier, theoretically good intention, but problematic without due process.

That makes more "sense" and is appreciated 👍.

I figured it had to do with transactions somehow, if it's an over reach I'm sure it will get ironed out if important enough. idk know how exactly it would have been implemented if not for a transaction somehow, as well. I wonder if PayPal themselves were having to deal with litigation due to transactions. I don't see how PayPal would have been at fault, and if a moral stance it's one thing but was probably a money thing at some point for them. I'm guessing.

Neither here nor there at this point, as it isn't finalized, but at least it's pulled.

[jaybuck43]

On 10/10/2022 at 7:34 PM, Ken Aldred said:

As an Aspie, this is appalling to read. 

Sorry, hope it wasn’t insulting. Wasn’t meant to be. I love our neurodivergent boardies  

[CAHokie]

On 10/10/2022 at 7:24 PM, jaybuck43 said:

I believe it would be going after people who sell solutions. So for instance there are several books that claim to tell you how to “cure” autism with a bleach solution or chelation. This is dangerous misinformation. (Children have died from parents following this information). So if I sold this stuff on my website (since Amazon has delisted these books) and use PayPal as a payment processor, they can “fine” me $2500 per instance, at their discretion. 
 

As I said earlier, theoretically good intention, but problematic without due process.

It was so bad that I assumed it had to be fake or taken completely out if context. Yet, that was what they actually “accidentally” posted. As if the words generated themselves and pressed submit.

They are lucky the stock only dropped 6% and not 10-15. I would be interested in cancelled account numbers.

[jaybuck43]

On 10/10/2022 at 7:36 PM, ADAMANTIUM said:

That makes more "sense" and is appreciated 👍.

I figured it had to do with transactions somehow, if it's an over reach I'm sure it will get ironed out if important enough. idk know how exactly it would have been implemented if not for a transaction somehow, as well. I wonder if PayPal themselves were having to deal with litigation due to transactions. I don't see how PayPal would have been at fault, and if a moral stance it's one thing but was probably a money thing at some point for them. I'm guessing.

Neither here nor there at this point, as it isn't finalized, but at least it's pulled.

This was pulled, but there are several other similar policies that still exist. Using PayPal for “hate” purposes is still prohibited and can lead to $2,500 fines. 

[Ken Aldred]

On 10/11/2022 at 12:37 AM, jaybuck43 said:

Sorry, hope it wasn’t insulting. Wasn’t meant to be. I love our neurodivergent boardies  

Not at all.  I was appalled at the misinformation you quoted.   

Sorry for the confusion. 

Edited October 10, 2022 by Ken Aldred

[jaybuck43]

On 10/10/2022 at 7:39 PM, CAHokie said:

It was so bad that I assumed it had to be fake or taken completely out if context. Yet, that was what they actually “accidentally” posted. As if the words generated themselves and pressed submit.

They are lucky the stock only dropped 6% and not 10-15. I would be interested in cancelled account numbers.

I would be too, because if I had to guess, the stock dropped on the news, but very few people Actually canceled (I could be wrong, just a gut feeling)

[D84]

On 10/10/2022 at 6:05 PM, ADAMANTIUM said:

Bless their heart 

I love that phrase. The Texas  you.

[kav]

On 10/10/2022 at 4:24 PM, jaybuck43 said:

I believe it would be going after people who sell solutions. So for instance there are several books that claim to tell you how to “cure” autism with a bleach solution or chelation. This is dangerous misinformation. (Children have died from parents following this information). So if I sold this stuff on my website (since Amazon has delisted these books) and use PayPal as a payment processor, they can “fine” me $2500 per instance, at their discretion. 
 

As I said earlier, theoretically good intention, but problematic without due process.

the market for homeopathic and other nonsense fat burning and hair regrowth BS products is a billion dollar industry.  Also, would it be a $2500 per listing fine or what?  and will it creep into other areas like if someone is selling a book that debunks climate change do they get fined?  what about anything paypal just doesnt agree with-is it misinformation and then a fine?

[kav]

On 10/10/2022 at 4:39 PM, jaybuck43 said:

This was pulled, but there are several other similar policies that still exist. Using PayPal for “hate” purposes is still prohibited and can lead to $2,500 fines. 

who determines what hate is though?  mostly it seems to be "Anything political I disagree with".

[jaybuck43]

On 10/10/2022 at 7:39 PM, CAHokie said:

It was so bad that I assumed it had to be fake or taken completely out if context. Yet, that was what they actually “accidentally” posted. As if the words generated themselves and pressed submit.

They are lucky the stock only dropped 6% and not 10-15. I would be interested in cancelled account numbers.

So i went through Paypal's 10qs for the last year or so.  There numbers flattened in June account wise.  But they've been pretty stagnant until then (growing about 3% Q-Q until June 2022 when it just flattened to no growth (429 million active accounts)

BUT, there revenues have been increasing Q-Q.  They went from 6.2 billion in June 2021 to 6.8 billion in June 2022.  So clearly people are still using paypal and they're making more money on it.  The issue as i see it is they took some massive 672 million loss on investments in their last quarter. No clue why.  Can't find anything about it (admittedly haven't looked too hard).  I am seeing a slight increase in transaction costs which will eat into those gains, but that 6% drop might be a tradable bounce when the market opens tomorrow, since I don't think they're going to see any noticeable cancellation numbers and the revenue keeps climbing.  

[jaybuck43]

On 10/10/2022 at 7:51 PM, kav said:

who determines what hate is though?  mostly it seems to be "Anything political I disagree with".

Paypal does, which is why, as i've said, there is an issue with their ability to act unilaterally.  I have no issue with them throwing you off the platform (i.e. we don't want to do business with the God Hates F**s crew)  I DO have an issue with them fining the God Hates F**s crew without due process.