Paypal's 'Unfair Contract Term' With Small Businesses That Led To Overcharging Ruled Out By Australian Court
Paypal's 'Unfair Contract Term' With Small Businesses That Led To Overcharging Ruled Out By Australian Court
In a recent development, the federal court of Australia has ruled that the local unit of PayPal Holdings Inc. (NASDAQ:PYPL) had an unfair term in its contracts with small businesses, leading to instances of overcharging.
最近澳洲联邦法院裁定，PayPal Holdings Inc.（纳斯达克股票代码：PYPL）的本地单位在其与小型企业的合同中存在不公平条款，导致了过度收费的情况。
What Happened: The Australian Securities & Investments Commission (ASIC) announced that the court deemed PayPal's term unfair, Reuters reported on Friday. This particular term required customers who failed to report overcharging errors within a 60-day period to accept the charges as accurate.
发生了什么：据路透社周五报道，澳大利亚证券与投资委员会（ASIC）宣布，法院认为PayPal的条款不公平。这一特定条款要求未在60天内报告收费错误的客户接受收费为准确。
The court proceedings against PayPal were initiated by ASIC in September of the previous year. ASIC Deputy Chair Sarah Court stated, "Today's decision serves as a reminder to all businesses that unfair contract terms contained within standard form contracts with small businesses will not be tolerated."
ASIC于去年9月展开了针对PayPal的诉讼。ASIC副主席Sarah Court表示，“今天的裁决提醒所有企业，不会容忍在与小企业签订的标准格式合同中存在的不公平合同条款。”
Paypal has yet to respond to the queries sent by Benzinga.
Paypal尚未就Benzinga的查询做出回应。
Why It Matters: The ASIC disclosed that PayPal cooperated voluntarily during the investigation. The company acknowledged that the term was unfair, agreed to the court's declarations, and voluntarily removed the term from its contracts on Nov. 8, 2023. The court has also ordered PayPal to pay ASIC's litigation costs.
为什么很重要：ASIC披露，PayPal在调查期间自愿合作。该公司承认该条款是不公平的，同意法院的声明，并自愿于2023年11月8日从其合同中删除该条款。法院还命令PayPal支付ASIC的诉讼费用。
This ruling comes at a time when PayPal is undergoing a transition phase. The company's new leadership and strategy are expected to drive long-term profitable growth. The company's stock closed at 59.51 USD on July 5, 2024, down 0.22% from the previous close.
此次裁决正值PayPal正在经历转型期。公司的新领导层和策略预计将推动长期盈利增长。公司股票于2024年7月5日收盘价为59.51美元，比前一交易日下跌0.22％。
Price Action: On Wednesday, Paypal closed at $59.64 and was trading 0.23% lower at $59.50 during Friday's pre-market, according to Benzinga Pro.
价格行动：周三，Paypal股价收于59.64美元，根据Benzinga Pro的数据，周五盘前交易时下跌0.23％，价格为59.50美元。
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Photo: Lets Design Studio/Shutterstock
照片：Lets Design Studio/Shutterstock
This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
本报道使用Benzinga Neuro生成，并由Pooja Rajkumari编辑