PayPal-ed

cybertech

https://techcrunch.com/2023/10/05/paypal-faces-new-antitrust-lawsuit-claiming-it-unfairly-stifles-competition-with-stripe-shopify-and-more/

Mod adds a little context:

PayPal has been hit with a class action lawsuit by consumers represented by law firm Hagens Berman alleging that the fintech giant’s anti-steering rules stifle competition against lower-cost payment platforms such as Stripe and Shopify.

Specifically, according to an investigation conducted by the firm’s consumer rights attorneys, PayPal has subjected consumers to excess charges when purchasing from online merchants that accept PayPal or Venmo.

The suit states that PayPal’s merchant agreements, which all merchants must sign to accept payments via its platform, leads to consumers paying more to make purchases. The attorneys charge that “if PayPal’s agreements were transparent, consumers would quickly see a price difference between PayPal and Venmo and its competitors.” ....

root

cxg

Honestly, I thought the EU would be first.

terrorgen

Ironically, venmo is also owned by PayPal.

skorous

@terrorgen said:
Ironically, venmo is also owned by PayPal.

Really? Dammit, didn't know that ... Paypal is awful.

terrorgen

From Wikipedia:

Venmo is an American mobile payment service founded in 2009 and owned by PayPal since 2013.