(MENAFN) The US Consumer Financial Protection Bureau said PayPal will pay USD25 million in refunds and penalties for illegally signing people up for its online credit product, The Peninsula Qatar reported.
The complaint accuses the eBay-owned online financial transactions service with illegally signing up and billing tens of thousands of people for PayPal Credit, formerly known as Bill Me Later.
The US online payments system also failed to deliver on promises of USD5 or USD10 credit towards purchases that had been advertised in promotions, the complaint charged.
"PayPal lured in consumers to this product with deceptive advertising, signed up people without them knowing it and then mishandled billing disputes when they arose," bureau director said.
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