As the backlash grew, so did calls to delete your PayPal and Venmo accounts in protest, and “BoycottPayPal” trended on Twitter.
PayPal stock fell as much as 6% on Monday after the company botched the roll-out of an acceptable use policy update that included big fines for the promotion of misinformation.
The new acceptable use policy expanded the company’s list of prohibited activities on its platform to include “the sending, posting, or publication of any messages, content, or materials” that “promote misinformation.”
Users that violated the policy would have been subject to a $2,500 fine that PayPal would automatically debit from their account.
