The corporate regulator will take the payments giant to court over claims small businesses are disadvantaged by a clause about incorrect fees.
The corporate regulator is taking PayPal to court over allegations a clause in its user contracts places an unfair burden on small businesses.
ASIC deputy chairman Sarah Court said regulator was taking legal action “to protect the interests of small businesses”.“We allege this term is unfair because it allows PayPal to escape the consequences of its own errors in overcharging small businesses, and places additional burdens on small businesses to detect and correct charging errors,” ASIC deputy chair Sarah Court said.
It is also argued the contract term would allow PayPal to keep fees where it has overcharged or incorrectly charged a business if the business does not pick this up within the time limit.
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