PayPal has banned Tommy Robinson for violating its terms and conditions and it will no longer process payments on his behalf.
It comes after online petitions calling on finance firms to sever ties with Mr Robinson, the former English Defence League leader, gained thousands of signatures.
The payments network said its platform could not be used to promote hate, violence or discrimination.
PayPal told the Standard it would not comment on individual customers but added it regularly reviewed accounts to ensure their use aligned with its policy.
It said: “We carefully review accounts to ensure our services are used in line with our long-standing Acceptable Use Policy, and take action as appropriate. We do not allow PayPal services to be used to promote hate, violence, or other forms of intolerance that is discriminatory.”
“We do not take decisions like these lightly, and we work hard to be rigorous and fair-minded when reviewing PayPal accounts.”
“Striking the necessary balance between upholding free expression and open dialogue and protecting principles of tolerance, diversity and respect for all people is a challenge that many companies are grappling with today. We work hard to achieve the right balance and to ensure that our decisions are values-driven and not political."
It comes after Mr Robinson, real name is Stephen Yaxley-Lennon, was jailed for contempt of court in May.
His 13-month sentence sparked a series of protests with demonstrators urging that he was freed. The conviction which was later quashed after procedural concerns.
The case has since been referred to the attorney general.
