PayPal is walking back a recently updated Acceptable Use Policy that threatened to fine users up to $2,500 for using the service to “promote misinformation.'
A new PayPal user agreement that threatens to fine users up to $2,500 if they use the service to"promote misinformation," was sent out"in error," a PayPal spokesperson tells FOX Business.
However, when contacted by FOX Business, a PayPal spokesperson said that the Acceptable Use Policy notice went out in error and that the company will not fine users for misinformation. The spokesperson added that the company is in the process of updating its policy changes and apologized for any confusion.
PayPal Holdings Inc on Tuesday, Feb. 1, 2022, forecast first-quarter revenue and profit well below expectations, as it prepares to take a hit from eBay Inc's ongoing move to ditch its payments services, sending its shares down 17.4%.
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