PayPal Faces $27.3M Fine In Poland Over Ambiguous Contract Clauses, Watchdog Criticizes Lack Of Transparency
PayPal Faces $27.3M Fine In Poland Over Ambiguous Contract Clauses, Watchdog Criticizes Lack Of Transparency
The Polish antitrust and consumer protection watchdog, UOKiK, has imposed a hefty fine on PayPal Holdings Inc. (NASDAQ:PYPL) for using unclear contract clauses.
波兰反垄断和消费者保护监管机构UOKik已对PayPal Holdings Inc.（纳斯达克：PYPL）处以巨额罚款，原因是其使用了不明确的合同条款。
What Happened: UOKiK has fined PayPal Europe 106.6 million zlotys ($27.3 million) for not clearly outlining to consumers the activities for which they could be penalized in their contractual clauses, Reuters reported on Monday.
UOKik对PayPal欧洲处以10660万兹罗提的罚款($2730万)，因未明确概括合同条款中可能会受到处罚的行为，路透社周一报道。
The watchdog stated that the prohibited activities were described in an ambiguous manner, making it difficult for users to understand what actions could result in penalties.
监管机构称，禁止的行为描述不清，使得用户难以理解可能会被处罚的行为。
UOKiK's President, Tomasz Chrostny, criticized PayPal's clauses for being "general, ambiguous, and incomprehensible." He added that this ambiguity gives PayPal the power to unilaterally decide if a user has violated a clause and what penalty they will face, which could include freezing funds in the user's account.
UOKiK的主席Tomasz Chrostny批评PayPal的条款“普遍、不明确和难以理解”。他补充说，这种模糊性给了PayPal决定用户是否违反条款以及他们将面临哪种惩罚（可能包括冻结用户账户中的资金）的权力。
PayPal has the option to appeal the decision in court, according to UOKiK.
据UOKik称，PayPal有权在法庭上提出上诉。
"PayPal is committed to treating its customers fairly and giving them accurate, easy to understand and transparent information," the company said, according to the report. "We have been working closely with UOKiK throughout its investigation, and we are reviewing today's announcement. As UOKiK states, this decision is not final and there will be an opportunity to appeal," it added.
根据报告，该公司表示：“PayPal致力于公平对待其客户并为他们提供准确、易于理解和透明的信息。我们一直在密切与UOKik合作调查，我们正在审查当天的公告。正如UOKik所述，这个决定并不是最终的，还有上诉的机会。”
Why It Matters: This fine is not an isolated incident for PayPal. Recently, the company faced scrutiny in Australia. Last week, the federal court ruled that PayPal's local unit had an unfair term in its contracts with small businesses, leading to overcharging.
这笔罚款不是PayPal所面临的唯一事件。最近，该公司在澳大利亚遭到了审查。上周，联邦法院裁定PayPal的当地部门在与小企业签订的合同中有不公平条款，导致对企业进行过度收费。
The Australian Securities & Investments Commission highlighted that customers who failed to report errors within 60 days had to accept the charges as accurate.
澳大利亚证监会指出，如果客户在60天内未能报告错误，则必须接受收费为准确。
Moreover, PayPal is undergoing significant changes in its leadership and strategy. In late June, RBC Capital analyst Daniel Perlin reiterated that PayPal's new leadership is poised to drive profitable growth, with fiscal 2024 marked as a transition year for the company.
此外，PayPal正在经历重大的领导层和战略变革。 6月底，RBC资本分析师Daniel Perlin重申，PayPal的新领导层正准备推动盈利增长，2024财年标志着该公司的过渡期。
However, the company is also facing increased competitive pressures. In June, Goldman Sachs analyst Will Nance noted that PayPal's competitive positioning in online payment processing is under threat from mobile and web-based wallets.
然而，该公司也面临着日益增加的竞争压力。高盛分析师Will Nance在6月表示，PayPal在在线支付处理方面的竞争地位受到来自移动和基于Web的钱包的威胁。
Price Action: PayPal stock closed at $60.24 on Friday, marking a gain of 0.42% for the day. In pre-market trading, the stock rose by 0.93%. However, year to date, PayPal has seen a decline of 1.99%, according to data from Benzinga Pro.
PayPal股票于周五收盘价为60.24美元，当天上涨0.42%。在美股盘前交易中，该股上涨了0.93%。然而，根据Benzinga Pro的数据，PayPal今年以来下跌了1.99%。
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Image Via Shutterstock
图片来自Shutterstock。
This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
本报道使用Benzinga Neuro生成，并由Kaustubh Bagalkote