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World Print edition: 2024-11-22

PayPal outage affects thousands worldwide

Published November 22, 2024 Updated November 22, 2024 03:03am
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By Reuters
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BENGALURU: Payments firm PayPal is facing a system issue that may be affecting multiple products, it said on Thursday.

The outage comes 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.

Exchanges Coinbase and Kraken also posted about outages with PayPal transactions and deposit delays, respectively, on their website.

PayPal did not immediately respond to a Reuters request for additional comment.

Downdetector, which collates status reports from a number of sources, said there were nearly 9,000 user reports of problems with PayPal transactions as of 1226 GMT.

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