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Dormant account
- Joined
- Dec 12, 2000
PayPal to fine gamblers
p2pnet.net News:- PayPal, which owes much of its early growth to online gambling, says it'll fine people up to $500 for uses related to gambling, adult content or services, and buying or selling prescription drugs from noncertified sources.
Now part of the eBay auction empire, PayPal once received almost 10% of its revenue from online gambling, says Reuters here, going on that regulations prohibiting the processing of gambling and adult transactions followed its acquisition by eBay in 2002.
Starting September 24, PayPal will impose fines for violations and, "may take legal action to recover losses in excess of the fines".
Ex-PayPal executive and author of "The PayPal Wars" Eric Jackson called the new policy "draconian," says Retuers.
p2pnet.net News:- PayPal, which owes much of its early growth to online gambling, says it'll fine people up to $500 for uses related to gambling, adult content or services, and buying or selling prescription drugs from noncertified sources.
Now part of the eBay auction empire, PayPal once received almost 10% of its revenue from online gambling, says Reuters here, going on that regulations prohibiting the processing of gambling and adult transactions followed its acquisition by eBay in 2002.
Starting September 24, PayPal will impose fines for violations and, "may take legal action to recover losses in excess of the fines".
Ex-PayPal executive and author of "The PayPal Wars" Eric Jackson called the new policy "draconian," says Retuers.