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PayPal Issued a $27 Million Fine in Poland for “Incomprehensible” Contractual Clauses

Online payments system giant PayPal has been fined by Poland’s Office of Competition and Consumer Protection (UOKiK) for placing “incomprehensible” contractual clauses that could lead to its customers being fined. According to UOKiK’s announcement, PayPal’s Europe division was ordered to pay 106.6 million zlotys (around...

PayPal Launches Stablecoin in Crypto Push

Online payments firm PayPal launched a U.S. dollar stablecoin on Monday in a bid to boost the usage of cryptocurrencies for online payments and transfers. PayPal's shares rose by 1% following the announcement. Pegged to the U.S. dollar, this currency is defined as a stablecoin...

PayPal Stock Falls Following Cool Q2 Earnings Report

PayPal Holdings shares plunged by almost 9% during premarket trading on Thursday after the company's second-quarter financial results fell short of expectations. The company reported an adjusted operating margin of 21.4% for the quarter, below estimates of 22% as indicated by data from Refinitiv IBES....

PayPal Backtracks on its Decision to Fine Users $2,500 for “Misinformation”

The online payment service PayPal is nixing its controversial decision to impose a fine for its users for misinformation. The company apologized for the “confusion” the decision caused and said it was an unfortunate error. Late last week, PayPal issued an update to its policy...

PayPal Aims to Save Up to $900 Million by Cutting Costs in 2022

PayPal is joining a long list of tech firms focused on saving money and cutting unnecessary costs. The online payment system recently announced a goal to save up to $900 million for the rest of 2022 by employing various cost-cutting methods. It is considered that...