We’ve all heard of the term PayPal Mafia, but that’s ordinarily used to reference some of PayPal’s earliest employees, not the company’s actual business practices.
Earlier today, PayPal agreed to fork over $25 million in damages stemming from shady business practices the company used to a) trick consumers into signing up for services that they didn’t really want and b) net more money in the way of fines and late fees than they were entitled to.
The list of PayPal’s offenses is long and should be worrisome for anyone who uses the service regularly, especially if large sums of cash are involved.
Read more here:: Boy Genius Report