Inhibits translation of capped and polyadenylated mRNAs by displacing PABPC1 from the poly(A) tail. Interacts (via central acidic portion and C-terminus) with PABPC1 (via the second and third RRM domains and the C-terminus). Expressed in brain, cervix, heart, liver, ovary, kidney, prostate and testis. Ubiquitinated in vitro. Belongs to the PAIP2 family.