PayPal fixes outage that affected thousands worldwide
Rewrites with outage resolution
Nov 21 (Reuters) -Payments firm PayPal PYPL.O said on Thursday it had resolved an issue that led to a global outage affecting thousands of users for nearly two hours.
The company experienced a system issue that affected multiple products including account withdrawals, peer-to-peer payment service Venmo, online checkout and crypto.
PayPal said the issue, which started at 1053 GMT, had been resolved as of 1259 GMT.
Exchanges Coinbase COIN.O and Kraken had alsoposted about outages with PayPal transactions and deposit delays, respectively, on their websites.
The outage occurred on a day bitcoin, the world's largest cryptocurrency, has surged to levels to over $98,000 and pulled other crypto stocks along with it.
PayPal allows its clients to buy, sell and hold cryptocurrency.
Downdetector, which tracks user-submitted reports, had saidthere were nearly 9,000 reports of problems with PayPal transactions as of 1226 GMT.
Reporting by Arasu Kannagi Basil and Pritam Biswas in Bengaluru; Editing by Krishna Chandra Eluri
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
