Skip to main content

Online Banking / Financial Payment System ( PayPal ) Users to Pay £2,200 as Penalty for Posting Misinformation on Social Media About the Company.







Google searches for ‘delete PayPal’ explodes after £2,200 fine warning to users.

Google searches for the phrase "delete PayPal " have skyrocketed by 1,392% after the payment giant said it would fine users $2,500 (roughly £2,261.24) for spreading misinformation.

The announcement came as part of a new policy set to come into force next month, but PayPal has since done a U-turn following the backlash.

A spokesperson for the company stated: “PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy.”

PayPal had planned to introduce the new policy on November 3, according to several reports.

Shares in the company fell nearly 6% after the update.

The payment giant was planning to issue fines of $2,500
The payment giant was planning to issue fines of $2,500 ( Photothek via Getty Images)

Analysis by Financial World found that worldwide Google searches for the phrase "delete PayPal" and "cancel PayPal" saw massive spikes following the news.

A spokesperson for Financial World commented on the findings: “PayPal has received backlash from their announcement, which was quickly retracted.

“Many posts can be seen highlighting the issue that PayPal announced they could deduct $2,500 straight from your account for misinformation, with hundreds of people suggesting closing their accounts to avoid this penalty.

“Famous faces, including Elon Musk, have been in agreement that the new policy is misguided.”

While the spike in Google searches meant PayPal users were keen to cease using the service altogether, some people took to social media to voice their criticism of the new policy.

Elon Musk agreed that the new policy was misguided
Elon Musk agreed that the new policy was misguided ( NTB/AFP via Getty Images)

Paypal's former president David Marcus took to Twitter to criticise the policy.

He said: "It’s hard for me to openly criticize a company I used to love and gave so much to. But PayPal ’s new AUP goes against everything I believe in.

“A private company now gets to decide to take your money if you say something they disagree with. Insanity."

While billionaire Elon Musk - who was a co-founder of PayPal before selling his shares to eBay for $175.8 million in 2002 - said he 'agreed' with Mr Marcus.

As a result of the widespread backlash that came with the announcement, Paypal's shares fell by more than 6%.

News Source; Internet.

Comments

Post a Comment

Popular posts from this blog

Escaped Murder Suspect Finally Arrested in Yumbe Regional Referral Hospital, Yumbe District.

Story by Osuta Yusuf. 19-November-2024. 📸: Eyotre Kennedy handcuffed on bed while receiving medication this morning at Yumbe Regional Referral Hospital in Yumbe District. Eyotre Kennedy originating from Etoko village, Nyoroo Parish, Nyadri Sub-county in Maracha District who has for many years been terrorizing residents in his village, has finally been arrested this Monday morning 19-November-2024 while receiving treatment at Yumbe Regional Referral Hospital in Yumbe District following injuries he sustained from Theft mission on Saturday night 16-November-2024 in Owapi village, Azapi parish in Odupi Sub-county, Terego East Constituency in Terego District. Click here on the link  https://informationispowah.blogspot.com/2024/11/fugitive-who-chopped-3-people-killed.html   to read the story on his Theft of Goats in Terego. Upon getting cut on the finger and leg by the Mob as he attempted to fight and overpower owner of the goats he attempted to steal on Saturday night ...
Post a Comment
Read more

41-Years-Old Man Digs His Own Grave in Maracha District.

Story by Osuta Yusuf.  Maracha District.  📸: The grave been dug by Mr Opiga Michael, a victim of frustration. Photo taken by Osuta Yusuf , on Wednesday 11-September-2024. The residents of Ebapi village, Baria Parish in Nyadri Sub-county, Maracha east constituency, Maracha District are in shock after a 41 year old man started digging his own grave. The man, identified as Mr Opiga Michael, who seems to be frustrated over some challenges in life, started digging his own grave on Tuesday 10-September-2024 until he was stopped by the elders in Nyaria clan. 📸: Opiga Michael, the Victim of Frustration. Photo by Osuta Yusuf , Information is Power. While speaking to our reporter on Wednesday evening 11-September-2024, Mr Opiga Michael, said, his main plan  was to commit suicide after finishing digging the grave for burying himself, explained that, he feels frustrated, abandoned and hated by his own clan people, whom he accused of piling lies against him a...
Post a Comment
Read more

Wedded Ayivu West MP Lematia John Fights Over Another Woman.

  📸: Hon Lematia John. By URN. Police in Arua district are investigating a case of assault and threatening violence involving the Member of Parliament for Ayivu West Constituency John Lematia and James Ariko, a DSTV technician in Arua city. Drama ensued on Easter Sunday 31-3-2024 at Dream Land Hotel located at Kuluva trading center along Arua-Nebbi highway in Arua district when the legislator and the technician engaged in a fight reportedly over a woman identified as Faith Eyotaru 25, a relationship officer at Victoria University Kampala. The scuffle started after Ayivu West Mp John Lematia went to swim at Dreamland Hotel with Faith Eyotaru only to find Ariko, who had gone to the same hotel earlier. However, upon seeing the duo coming out of the vehicle, Ariko confronted Lematia with both men claiming to be having a relationship with the lady. It took the intervention of the staff at the hotel who intervened and separated the fight between the men. Josephine Angucia, the West Nil...
Post a Comment
Read more