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Beware or be aware of PayPal's changes to TOS
PayPal recently notified users they may be sanctioned up to $2,500 for promoting “misinformation” over the internet or if the company determines they “present a risk to user safety or wellbeing.”
The amendments to their “Acceptable Use Policy” will take effect on Nov. 3.
The update states that “violation of this Acceptable Use Policy constitutes a violation of the PayPal User Agreement and may subject you to damages, including liquidated damages of $2,500.00 U.S. dollars per violation, which may be debited directly from your PayPal account(s).”
PayPal considers $2,500 to be an appropriate amount because it reflects a “reasonable minimum estimate of PayPal’s actual damages” which they claim would include “administrative costs incurred by PayPal to monitor and track violations, damage to PayPal’s brand and reputation, and penalties imposed upon PayPal by its business partners resulting from a user’s violation.”
It almost goes without saying that the determination of what constitutes a violation is up to the “sole discretion of PayPal.”
The amendments to their “Acceptable Use Policy” will take effect on Nov. 3.
The update states that “violation of this Acceptable Use Policy constitutes a violation of the PayPal User Agreement and may subject you to damages, including liquidated damages of $2,500.00 U.S. dollars per violation, which may be debited directly from your PayPal account(s).”
PayPal considers $2,500 to be an appropriate amount because it reflects a “reasonable minimum estimate of PayPal’s actual damages” which they claim would include “administrative costs incurred by PayPal to monitor and track violations, damage to PayPal’s brand and reputation, and penalties imposed upon PayPal by its business partners resulting from a user’s violation.”
It almost goes without saying that the determination of what constitutes a violation is up to the “sole discretion of PayPal.”
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https://www.paypal.com/us/webapps/mpp/ua/useragreement-full?locale.x=en_US#restricted-activities