What policy does PayPal have against spamming?
The purpose of PayPal’s referral bonus program is to encourage users to introduce PayPal to their friends, family members and online buyers. However, PayPal does not allow users to spam. Once PayPal finds out that a user is sending out junk emails with referral link, it will forthwith restrict such user’s account. For more information, please refer to PayPal’s Anti-spamming Policy.