21 May '15, 8am

#PayPal fined $25million Related to the Pay Later Button via @thedomains

PayPal got hit with a $25 million fine for deceiving their customers. The pay later button is at the root of the problem, I know when I first started seeing it I thought it was annoying. I just want to pay for my domain registration, not looking to pay later for $10.99. Rob Beschizza wrote on Boing Boing covered the story: A few months ago, I noticed that PayPal put a “pay later” button where the usual payment button would be. It’s a tricky way to snooker users into the credit/debt treadmill, and PayPal has been fined for this fraudulent behavior , writes Josh Lowensohn. The organization says PayPal signed people up to the service without their permission, deceptively advertised its benefits (which never materialized in some cases), forced users to use PayPal Credit instead of other payment methods, and “mishandled” billing in a way that raked up late fees and extra intere...

Full article: http://www.thedomains.com/2015/05/21/paypal-fined-25milli...

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