Last week, PayPal released an updated version of their policy. There was a fine of 2500 dollars if someone publishes fake messages, content and materials about PayPal online or otherwise. After the release of this update, there is a storm of criticism on social media. Even the San Jose, California-based company’s share price fell nearly 6 percent.
On Monday, PayPal Holdings Inc. explained this new policy. In a statement, the company said that the issue of penalty or compensation to customers for spreading false information was omitted. In this case, customers will not be penalized.
A PayPal spokesperson said PayPal will not penalize anyone for false information. We also wanted to write something like that in our policy. We are sorry for the misunderstanding.
It should be noted that this new policy was supposed to be effective from November 3.
