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PayPal is cutting off Alex Jones and says it will no longer do business with InfoWars because it promotes 'hate and discriminatory intolerance' (PYPL)

PayPal said an extensive investigation had determined that InfoWars has promoted hate and discriminatory intolerance against certain communities and religions.

PayPal announced on Friday that it will stop providing business services to InfoWars, the website created by Alex Jones that promotes conspiracy theories.

The payment processing company said it determined that InfoWars "

When reached for comment, PayPal directed Business Insider to its public statement on InfoWars.

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A story on the InfoWars site on Friday about the PayPal ban called it "nothing less than a political ploy designed to financially sabotage an influential media outlet just weeks before the mid-term elections."

Here's the full PayPal announcement:

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