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October 29, 2010, 4:29 PM EDT
By Joseph Galante
(Adds last year’s outage in fourth paragraph.)
Oct. 29 (Bloomberg) -- EBay Inc.’s PayPal online-payment business said its service is functioning again for most users after an outage that lasted about an hour and a half.
Users had trouble logging into their accounts as well as sending and receiving money, the San Jose, California-based company said today in a blog posting. PayPal supports payments in 24 currencies and has localized websites in 20 countries.
PayPal’s 90 million active users normally send and receive $2,700 per second through the service, the company said. That would equate to about $14.6 million in funds that didn’t move during the outage, according to a Bloomberg calculation.
The company had a 6-hour outage last year in August. PayPal, which estimates it controls about 10 percent of the online payment-processing market, charges merchants a fee every time a customer pays.
EBay fell 1 cent to $29.71 at 1:37 p.m. New York time in Nasdaq Stock Market trading.
--Editors: Romaine Bostick, Cecile Daurat.
To contact the reporters on this story: Joseph Galante in San Francisco at jgalante3@bloomberg.net.
To contact the editors responsible for this story: Tom Giles at tgiles5@bloomberg.net.
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(Adds last year’s outage in fourth paragraph.)
Oct. 29 (Bloomberg) -- EBay Inc.’s PayPal online-payment business said its service is functioning again for most users after an outage that lasted about an hour and a half.
Users had trouble logging into their accounts as well as sending and receiving money, the San Jose, California-based company said today in a blog posting. PayPal supports payments in 24 currencies and has localized websites in 20 countries.
PayPal’s 90 million active users normally send and receive $2,700 per second through the service, the company said. That would equate to about $14.6 million in funds that didn’t move during the outage, according to a Bloomberg calculation.
The company had a 6-hour outage last year in August. PayPal, which estimates it controls about 10 percent of the online payment-processing market, charges merchants a fee every time a customer pays.
EBay fell 1 cent to $29.71 at 1:37 p.m. New York time in Nasdaq Stock Market trading.
--Editors: Romaine Bostick, Cecile Daurat.
To contact the reporters on this story: Joseph Galante in San Francisco at jgalante3@bloomberg.net.
To contact the editors responsible for this story: Tom Giles at tgiles5@bloomberg.net.
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