Just got this email from them hot off the press.
Glad I quit using them a long time ago.
We are writing to inform you that PayPal has modified its Acceptable Use Policy. As of May 12, 2003, PayPal will no longer support transactions for adult content or products.
After a careful review of the financial factors relating to the processing of adult transactions, we concluded that this change was the best course of action for our business.
We understand that payment processing is a critical component of any business, and hope that this two-month notice will provide you with sufficient time to transition to an alternate payment system.
Summary of the New Policy
Under the terms of the Acceptable Use Policy, effective May 12, 2003, PayPal will no longer allow accounts to send or receive payments for adult content or products that are not sold through the Mature Audiences section of eBay's website. PayPal will continue to process payments for eBay-hosted items that are in compliance with eBay's listing requirements and restrictions because eBay listings are easier to monitor than website-based transactions. Click here to read the full terms of the Acceptable Use Policy.
You may keep your PayPal account open after May 12, 2003, on a good faith basis. Your transaction history will still be viewable online, and you may continue to withdraw funds under your current account guidelines. Reserves for accounts with rolling reserves will continue to operate, with reserves ending 180 days after the receipt of the last transaction. Because you are not being required to close your PayPal account, your account access may be limited if it is determined that your account activity violates PayPal's new policy on adult content.
PayPal customers affected by the new policy who paid the Visa, MasterCard High Risk registration fee will have their registration fee refunded. The fee will be refunded no later than June 13, 2003.
Thank You for Your Business
We apologize for any inconvenience this change will cause to you, and would like to thank you for your business.
If you have any questions about the Acceptable Use Policy, please feel free to contact your account manager.
Sincerely,
The PayPal Team
Glad I quit using them a long time ago.
We are writing to inform you that PayPal has modified its Acceptable Use Policy. As of May 12, 2003, PayPal will no longer support transactions for adult content or products.
After a careful review of the financial factors relating to the processing of adult transactions, we concluded that this change was the best course of action for our business.
We understand that payment processing is a critical component of any business, and hope that this two-month notice will provide you with sufficient time to transition to an alternate payment system.
Summary of the New Policy
Under the terms of the Acceptable Use Policy, effective May 12, 2003, PayPal will no longer allow accounts to send or receive payments for adult content or products that are not sold through the Mature Audiences section of eBay's website. PayPal will continue to process payments for eBay-hosted items that are in compliance with eBay's listing requirements and restrictions because eBay listings are easier to monitor than website-based transactions. Click here to read the full terms of the Acceptable Use Policy.
You may keep your PayPal account open after May 12, 2003, on a good faith basis. Your transaction history will still be viewable online, and you may continue to withdraw funds under your current account guidelines. Reserves for accounts with rolling reserves will continue to operate, with reserves ending 180 days after the receipt of the last transaction. Because you are not being required to close your PayPal account, your account access may be limited if it is determined that your account activity violates PayPal's new policy on adult content.
PayPal customers affected by the new policy who paid the Visa, MasterCard High Risk registration fee will have their registration fee refunded. The fee will be refunded no later than June 13, 2003.
Thank You for Your Business
We apologize for any inconvenience this change will cause to you, and would like to thank you for your business.
If you have any questions about the Acceptable Use Policy, please feel free to contact your account manager.
Sincerely,
The PayPal Team
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