PayPal reinstates $2,500 fine for users who spread misinformation

PayPal reinstates $2,500 fine for users who spread misinformation

American multinational PayPal has reinstated a fine of $2,500 if any user is caught spreading misinformation.

The payment giant added terms and conditions giving the platform permission to withdraw $2,500 from user accounts.

The instances of remittance include situations where the company believes that the user promoted "misinformation”.

This will include instances where users post, publish and send any content that is "harmful, obscene, harassing or objectionable".

The new prohibited-speech policy is set to start on November 3.

PayPal closed down the accounts of the Free Speech Union a few weeks ago.

PayPal has made a net worth of $109.9 billion so far in 2022.

In 2019, the company reported total annual revenue of $17.772 billion with earnings of $2.459 billion.