Quick Byte: Paypal to Miss $36,000,000 in Transactions #PayPalFail

Posted by Michael Duvall in Quick Bytes on Aug 4th, 2009 | no responses

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The webs largest Online Payment Service, Paypal went down yesterday from the hours of 1:30 EDT to 6:30 EDT missing approximately $36,000,000 in transactions from around the globe. According to the Wall Street Journal, PayPal spokesman Anuj Nayar said the cause was from an “internal network hardware issue” but was not sure how to deal with merchants that currently rely on the system.

While the issue appears to be resolved, there was no mention if PayPal plans to update their contingency plan to reduce another lengthy outage in the future.

(source Wall Street Journal)