PayPal has announced $2,500 fine and possible ban for misinformation to be determined solely by the payment processor
Payment processor PayPal said in its new policy that users spreading misinformation will be fined $2500 and possibly removed from the platform.
The company said Friday the new rule is set to take effect next month.
IT News Nigeria gathered that the revised terms of service ban the publication or promotion of any materials that “promote misinformation” or “present a risk to user safety or wellbeing.”
This however expands an already lengthy list of prohibited behaviors that includes nudity, sex, drugs, and promotion of “hate, violence, racial or other forms of intolerance that is discriminatory.”
PayPal also said the new policy offenders are subject to a $2,500 penalty, to be assessed at PayPal’s “sole discretion,” taken directly from the user’s account, no explanation needed – users agree to the penalty when they sign up.
It added that the heavy sum is “a reasonable minimum estimate of PayPal’s actual damages” from the cost of tracking violations and repairing damage to its own reputation.
PayPal $2500 fine what is more?
IT News Nigeria also gathered that charges are imposed on a per-violation basis. This means that users will be fine $2500 each time they share misinformation or violate the new policy and how exactly that would be calculated is left solely to PayPal.
Such Frequent penalties could easily result in the cancellation of the user’s account.
PayPal users may be concerned for the fact that only PayPal would determine the term “misinformation” and many believe it will simply be used to further silence content creators with alternative views.