PayPal
❗Article Status Notice: This Article is a stub
This article is underdeveloped, and needs additional work to meet the wiki's Content Guidelines and be in line with our Mission Statement for comprehensive coverage of consumer protection issues. Issues may include:
- This article needs to be expanded to provide meaningful information
- This article requires additional verifiable evidence to demonstrate systemic impact
- More documentation is needed to establish how this reflects broader consumer protection concerns
- The connection between individual incidents and company-wide practices needs to be better established
- The article is simply too short, and lacks sufficient content
How You Can Help:
- Add documented examples with verifiable sources
- Provide evidence of similar incidents affecting other consumers
- Include relevant company policies or communications that demonstrate systemic practices
- Link to credible reporting that covers these issues
- Flesh out the article with relevant information
This notice will be removed once the article is sufficiently developed. Once you believe the article is ready to have its notice removed, visit the Discord (join here) and post to the #appeals channel, or mention its status on the article's talk page.
PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers. It serves as an electronic alternative to traditional paper methods such as checks and money orders. The company operates as a payment processor for online vendors, auction sites and many other commercial users, for which it charges a fee.
| Basic information | |
|---|---|
| Founded | 1998 |
| Type | Public |
| Industry | Financial Technology |
| Official website | https://paypal.com/ |
Products
Controversies
| Controversy | Year | Background Info | Aftermath | Related Article | Related Video(s) |
|---|---|---|---|---|---|
| PayPal will no longer refund transaction fees on refunds | 2019 | PayPal announced they would undo this policy change, and then a few months later re-implemented it. | https://eseller365.com/paypal-will-no-longer-refund-transaction-fees-on-refunds/ | https://www.youtube.com/watch?v=c1WPDVjXDj0
https://www.youtube.com/watch?v=6nhZKqC1y1g https://www.youtube.com/watch?v=6APNcFOuE1g https://www.youtube.com/watch?v=rQpfNsuTSGc https://www.youtube.com/watch?v=YPXhzgC2ODs | |
Privacy
In 2018, the introduction of the DGPR in Europe forced PayPal to disclose a list of third party companies they share user data with. The sheer endless list includes over 600 different companies, from fraud prevention to analytics, tracking and advertising companies.[1]
Alternatives
Unfortunately, no truly privacy friendly digital payment systems are in wide-spread use at the time of writing.
The GNU Taler project is a very promising very recent option that allows for completely anonymous purchases while still relying on common currencies and preventing money laundering and tax fraud. However, it is currently only available in certain test regions.
Of the more universally available commercial payment methods, Apple Pay is among the most private, but requires the user to own an Apple device and to trust Apple Inc not to collect more data than they disclose.