PayPal outages: German banks stopped SEPA debits — summary
PayPal outages: German banks stopped SEPA debitsAt the start of the week PayPal experienced problems. According to the Süddeutsche Zeitung, a failure in important PayPal security systems led several German banks to stop execution of SEPA direct debits worth billions. The trigger was reportedly an unusually large number of transactions within a short period on Monday, which raised risk flags and prompted banks to block payments.Key points:Security-system failure at PayPal affected payment processing.German banks paused SEPA direct debits totalling billions to prevent potential fraud or errors.The incident was traced to an unusually high volume of transactions on Monday.Source: Süddeutsche Zeitung — Read moreNote: Original item appeared on iphone-ticker.de; RSS links were not included in this post.