PayPal doesn’t have a monopoly anymore so this just seems bizarre. Visa, Google, Apple, etc run similar services on a massive scale. Then there’s of course crypto.
For how rarely they are likely to actually enforce this, it just seems like a rather stupid hill to die on. Not just the initial decision but the attempt to try and sneak the terms back in.
Paypal is well known for randomly stealing money from user accounts and has been known for this for over a decade. Their reputation is already rock bottom to anyone who would know about this latest debacle, and they make massive amounts of money for free by doing this. There is no reason at all for them to stop, unfortunately.
They are but the optics here are especially jarring. First the political angle which is bad when you’re trying to sell to the entire population, and now the just very obviously cruel move to small business during economic hardship.
It’s tempting people who shrugged their shoulders and used PayPal because they were a monopoly to re-evaluate if they should click PayPal in a checkout with Visa Checkout for instance.
For how rarely they are likely to actually enforce this, it just seems like a rather stupid hill to die on. Not just the initial decision but the attempt to try and sneak the terms back in.