20/12/2023 (Agence Europe) – On Wednesday 20 December, online financial services company PayPal undertook to revise its terms and conditions to make them more transparent and understandable for consumers, in response to discussions with the European Commission and national consumer protection authorities that began last May. The Consumer Protection Cooperation Network (CPC), overseen by the European Commission and headed by the German Umweltbundesamt (Federal Environmental Office), had criticised PayPal’s general terms and conditions for their lack of transparency, deeming them unfair to consumers. PayPal has agreed to amend the clauses in question in order to comply more fully with EU consumer protection legislation, in particular the Unfair Contract Terms Directive (see EUROPE 12301/6). The CPC will monitor the implementation and compliance of these commitments. (NP)