'Far From Consumer Friendly' - PayPal Slammed In Class-Action Suit Accused Of Forcing Higher Price
Portfolio Pulse from Nabaparna Bhattacharya
PayPal Holdings, Inc. (NASDAQ:PYPL) is facing a consumer antitrust lawsuit in California, accused of anticompetitive practices. The lawsuit alleges that PayPal charges the highest transaction fees in the industry and uses 'anti-steering' rules to suppress competition from lower-cost platforms. The company's policies have allegedly led to consumers paying higher prices for e-commerce transactions.
October 06, 2023 | 1:18 pm
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PayPal is facing a lawsuit over its high transaction fees and alleged anticompetitive practices. This could potentially harm the company's reputation and financial performance.
The lawsuit accuses PayPal of charging the highest transaction fees in the industry and using 'anti-steering' rules to suppress competition. If proven, this could lead to financial penalties and damage to the company's reputation, which could negatively impact the stock price.
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