Hagens Berman: Class-Action Lawsuit Accuses PayPal of Anticompetitive Pricing Rules Affecting Millions of Consumers
Consumers today filed a class-action lawsuit against leading e-commerce payment supplier and owner of Venmo, PayPal , alleging it enacts illegally anticompetitive policies through its anti-steering rules that ultimately lead to millions of consumers paying excess charges annually, according to attorneys at Hagens Berman.
- Consumers today filed a class-action lawsuit against leading e-commerce payment supplier and owner of Venmo, PayPal , alleging it enacts illegally anticompetitive policies through its anti-steering rules that ultimately lead to millions of consumers paying excess charges annually, according to attorneys at Hagens Berman.
- According to attorneys, PayPal’s anti-steering rules prevent merchants from discounting products purchased with these more cost-effective methods of payment.
- Consumers end up paying more for all transactions as a result of PayPal’s policies and industry-high rates, the lawsuit states.
- Nearly 1 million U.S. eCommerce websites accept PayPal as a means of payment, and PayPal processes 41 million transactions daily.