Online payment service provider PayPal said Friday it had resolved a glitch that may have blocked billions in payments in Europe this week.
An issue with PayPal’s security system led several German banks this week to stop PayPal direct debits, Sueddeutsche Zeitung and other German media reported.
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This resulted in some retailers not receiving payments and some customers being advised that the balance of their PayPal wallets was in the red, the reports said.
“We apologise for the inconvenience of this recent event,” the US company said in a statement on Friday. “Safety and security continues to be our top priority.”
“This issue has been resolved and we’re working with bank partners to address any discrepancies in consumers’ accounts. All legitimate transactions for merchants will be honoured in full.”
German consumer rights group VZBZ said many customers had been unsettled by the PayPal messages.
The group’s Ramona Pop added that the issue “once again revealed the dependence on US payment service providers” and argued that “more European alternatives are needed”.
PayPal is the leading online payment provider in Germany, with around 30 percent of the total purchase market.
Online payment service provider PayPal said Friday it had resolved a glitch that may have blocked billions in payments in Europe this week.
An issue with PayPal’s security system led several German banks this week to stop PayPal direct debits, Sueddeutsche Zeitung and other German media reported.
This resulted in some retailers not receiving payments and some customers being advised that the balance of their PayPal wallets was in the red, the reports said.
“We apologise for the inconvenience of this recent event,” the US company said in a statement on Friday. “Safety and security continues to be our top priority.”
“This issue has been resolved and we’re working with bank partners to address any discrepancies in consumers’ accounts. All legitimate transactions for merchants will be honoured in full.”
German consumer rights group VZBZ said many customers had been unsettled by the PayPal messages.
The group’s Ramona Pop added that the issue “once again revealed the dependence on US payment service providers” and argued that “more European alternatives are needed”.
PayPal is the leading online payment provider in Germany, with around a 30 percent market share.
AFP