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October 1, 2012

Paypal’s technical glitches delay transactions in UK

Rise in transactions was respoonsible for the delay

By CBR Staff Writer

Global online payment solutions provider PayPal has been experiencing technical glitches in the UK, which led to delay in transactions to customers.

The delay was due to modification of the system to accelerate the process during customers’ transfer of money from their PayPal account into their bank account from three working days to about hours.

The process led to rise in volume of transfers, leading to the rise in the number of transactions requiring security checks that led to delay in transactions.

PayPal spokesman said that the firm had some technical issues which mean more transactions than usual are being reviewed for risk reasons.

"The underlying issues have been resolved and PayPal is working to clear up the problems by the end of the week," spokesman said.

”Although most withdrawals are not subject to review, a minority of customers have been told it may take up to 24 hours for us to review the transactions.”

As per the rules, payment providers have to deliver a given number of transactions for security checks, while the rise in transactions, had overloaded the company’s system became overloaded, leading to the technical problem.

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