In a new policy that was leaked to the public, PayPal, the payments company threatened to fine users of their platform up to $2,500 for speaking out about what PayPal deems to be “misinformation” to the public. The company later backtracked and said that was never supposed to be released to the public.
PayPal’s former president David Marcus responded on Twitter writing, the new policy “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” Marcus wrote on Twitter. Elon Musk who co-founded PayPal, tweeted “Agreed”, replying to Marcus’s tweet.
Reuters reported “PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy. We’re sorry for the confusion this has caused,” a spokesperson for the company said.
“PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy. We’re sorry for the confusion this has caused,” a spokesperson for the company said according to Reuters.
Stock shares tumbled 6% in response.
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