PayPal, the eBay-owned online payment provider, plans to levy fines of up to $500 for users who violate its acceptable use policy regarding adult content and services, prescription drugs and gambling.
Effective September 24, PayPal’s compliance team will strictly enforce the new acceptable use policy to implement the monetary fines on Web site owners who use PayPal to collect payment for illegal services. PayPal also warned that it “may take legal action to recover losses in excess of the fines.” PayPal spokesperson Amanda Pires told internetnews.com the move is part of the company’s mission to stamp out online fraud and scams targeting PayPal users. “There is a business risk associated with those categories, and we are moving to protecting our users,” Pires said.
Source: Internet News
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