Friday 2 September 2016

PayPal is updating their terms and conditions to prohibit vendors from giving preference to Bitcoin or other forms of payment. Indeed vendors aren't allowed to criticize PayPal at all. Two more ways they can shut your account and hold your money.


Here are the amendments to PayPal's terms and conditions that show them to be afraid of alternative forms of payment.And here is the relevant section from the above link.(Note that I am using bold where PayPal uses underline to highlight the changes because underlining doesn't work well on Reddit.)Non discouragementWe are amending section 4.4 (Non discouragement) to outline the standards that businesses must adopt at their points of sale in respect of their customers’ use of PayPal. Section 4.4 now reads as follows (with added/amended wording underlined):"4.4 Non discouragement.In representations to your customers or in public communications, you shall not mischaracterize or disparage PayPal as a payment method.At all of your points of sale (in whatever form):a. you shall not dissuade or inhibit your customers from using PayPal; andb. if you enable your customers to pay you with PayPal, you shall treat PayPal’s payment mark at least at par with other payment methods offered.Merchants take note. via /r/Bitcoin http://bit.ly/2ckeQgH

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