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Started By
Message
re: How damaging is PayPal issue regarding fines for disinformation?
Posted on 10/9/22 at 11:15 am to BigOrangeVols
Posted on 10/9/22 at 11:15 am to BigOrangeVols
quote:
I'm out of the loop - what's this in reference to?
Poorly written acceptable use policy updated to say they could fine users $2500 per incident of spreading disinformation. At their sole discretion.
Very unclear how they would execute. I don't care if I am taking donations for Hitler youth if you wanted trusted with money you don't take it. I don't care if you say I don't want your business but fine bridge too far.
They are now saying that was an error
1
Posted on 10/9/22 at 11:17 am to thelawnwranglers
It wasn't an error until the internet exploded on their arse.
Posted on 10/9/22 at 11:55 am to FnTigers
FPP
Posted on 10/9/22 at 2:11 pm to thelawnwranglers
quote:
Unsure if I am just in an echo chamber or they are going to see material drop in user/revenue
I just can't imagine a worse public relations disaster for a business in this sector and at this level of visibility. Biden is doing better in the public square at this moment than PayPal. :letthatsinkin:
Posted on 10/9/22 at 2:50 pm to Ace Midnight
Their value prop to me was name brand and trust.
So easily replace such and easy thing to close
So easily replace such and easy thing to close
Posted on 10/9/22 at 6:05 pm to thelawnwranglers
quote:Stock down 52% since January, and that was before this hit.
Would love to know impact
I’d be surprised if they don’t take a big hit on the stock Monday.
Posted on 10/9/22 at 6:28 pm to castorinho
quote:
“An AUP notice recently went out in error that included incorrect information.
What the frick ever… corporate comms don’t go out on a whim, they go through multiple layers of review.
They fricked up and misread their audience.
Posted on 10/9/22 at 7:02 pm to Lsut81
It’s just really hard the fathom that a company thought people would be onboard with what they were proposing. I don’t understand how they could be so stupid
Posted on 10/9/22 at 7:07 pm to Civildawg
It really defies logic that they tried to pull this. I believe it was intentional and now they are backtracking on the issue.
Posted on 10/9/22 at 7:15 pm to saintsfan6
I think they were always not so great about protecting clients assets
This post was edited on 10/9/22 at 7:25 pm
Posted on 10/9/22 at 8:15 pm to thelawnwranglers
Mostly older
Folks like me who don’t like this communist shite still using PayPal anyway.
Complete misread here. Hope they bankrupt
Folks like me who don’t like this communist shite still using PayPal anyway.
Complete misread here. Hope they bankrupt
Posted on 10/9/22 at 8:43 pm to thelawnwranglers
Right now, you have to on/off ramp your dollars to a network that transacts stablecoins. The fiat on/off ramp is the big hurdle. Really, it's not that difficult, but most ways force you through a centralized exchange that charge for it, though I guess that's not unlike paypal or CC fees.
Posted on 10/9/22 at 9:17 pm to thelawnwranglers
quote:
PayPal has removed the ability for users to close their accounts.
That tells you how bad the situation is.
LINK
PayPal should never have been in the business of moral policing. They should have been vouching for someone's financial viability and nothing else.
Posted on 10/9/22 at 9:22 pm to thelawnwranglers
Count me as one of the likely millions of people that cancelled their account.
The damage is irreparable. Nobody buys their "it was an accident!" excuse. Those Terms of Service documents are written by teams of lawyers and double and triple checked.
They have completely destroyed all trust and credibility. When it comes to a financial services company, trust is the most important trait you can possess.
Who in their right might would ever have their money tied up with a company who threatens to steal your funds for wrong-think.
The damage is irreparable. Nobody buys their "it was an accident!" excuse. Those Terms of Service documents are written by teams of lawyers and double and triple checked.
They have completely destroyed all trust and credibility. When it comes to a financial services company, trust is the most important trait you can possess.
Who in their right might would ever have their money tied up with a company who threatens to steal your funds for wrong-think.
Posted on 10/9/22 at 9:24 pm to jimjackandjose
quote:
What are the alternatives to PayPal out there?
Posted on 10/9/22 at 9:25 pm to shutterspeed
Venmo is popular but guess what, it's owned by PayPal, so no dice there.
Zelle is probably who I will use. It's jointly owned by a bunch of different mega-banks I believe.
Zelle is probably who I will use. It's jointly owned by a bunch of different mega-banks I believe.
Posted on 10/9/22 at 9:27 pm to shutterspeed
quote:
What are the alternatives to PayPal out there?
How do you use it? When I pay online my credit card is saved in Google now
Posted on 10/9/22 at 9:33 pm to thelawnwranglers
quote:
How do you use it? When I pay online my credit card is saved in Google now
Mostly digital subscription services but also to pay private merchants and other odds and ends.
Posted on 10/10/22 at 4:58 am to thelawnwranglers
Sadly with the new ESG regulations, fining people for wrongthink would improve your score as a business. No doubt this is why this was put in there.
Posted on 10/10/22 at 8:14 am to rickgrimes
Glad I closed mine when the news first came out. Not that I used it awhole lot. Just gave me further reason to reduce my potential security breaches.
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