PayPal, the online payments arm of eBay Inc. on Friday said it will soon fine people up to $500 for uses related to gambling, adult content or services, and buying or selling prescription drugs from noncertified sellers.

The new policy, which takes effect Sept. 24 and applies to both buyers and sellers, marks the first time PayPal has imposed fines for violations of its use policy, spokeswoman Amanda Pires said. In addition to fines that could be applied to each violation, PayPal may take legal action to recover losses in excess of the fines, Pires said in an interview.

PayPal processes transactions on the Net and at one time had received almost 10 percent of its revenue from online gambling. But it halted the practice under regulatory pressure after its acquisition by eBay in 2002 and now prohibits the processing of gambling and adult transactions. Now it has decided to enforce that policy with fines.

"What you're seeing here is an evolution of our program. We're trying to deter people who would offer PayPal as a way to pay for anything in these categories," said Pires in an interview.
Full story...


Source : Reuters

PP has just started executing its monopoly power.
They tell us what is good for our health, mentality, etc, and they charge money for protecting us...
As if there is a moral weight on each transaction contributing to its estimated value...

(in reply to SiliconFreak)