PayPal revokes new $2,500 fine on ‘misinformation’ claiming update went out ‘in error’ after backlash

PayPal quickly became PayFoe in a matter of hours after it was discovered the company had published a policy which would fine users $2,500 for whatever it may determine as spreading “misinformation.” After backlash ensued and thousands of clients removed their money and cancelled their membership with the app, PayPal claimed it was an “error.”

In a written statement, a spokesperson told National Review:

“An AUP notice recently went out in error that included incorrect information. PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy. Our teams are working to correct our policy pages. We’re sorry for the confusion this has caused.”

The Daily Wire first reported on the policy update, which appeared to authorize taking $2,500 from the accounts of users who spread “misinformation,” among other newly listed offenses. “The new conditions were scheduled to be added to the restricted activity section of the PayPal User agreement effective November 3” reports National Review.

Former PayPal president David Marcus even chastised the company’s actions:

“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,” the cryptocurrency entrepreneur said Saturday. “A private company now gets to decide to take your money if you say something they disagree with. Insanity.”

National Review reports:

PayPal was founded by Peter Thiel, who has invested in a number of GOP rising stars and “conservative” business ventures. Ebay acquired the company in 2002 and has managed it since. In recent years, PayPal has been known to censor or deplatform organizations or individuals for certain political commentary, particularly that which is considered right-wing.

It recently banned Gays Against Groomers, a group composed of LGBT-identifying people that claims to call attention to the sexualization and medicalization of children via gender ideology and the transgender movement. Minutes later, PayPal’s subsidiary Venmo reportedly barred the organization from access. Evolutionary biologist Colin Wright and journalist Ian Miles Cheong, who regularly expose the dangers of transgenderism for minors, have also been removed.