PayPal Hardware Failure Causes Global Outage

eBay's online payment service PayPal suffered from an outage on Friday that left the system inaccessible over the weekend.

According to the company, the problem was caused by a network hardware failure that resulted in a global outage.

Scott Guilfoyle, the chief technology officer at PayPal apologised for the inconvenience caused by the outage.

“We take our commitment seriously to provide our customers a safer and more convenient way to pay and be paid online. So we understand how frustrating it is to experience any disruption in the benefits PayPal provides,” he wrote on the blog.

However, PC Pro is reporting that PayPal users in the UK are still experience problems in the service.

One PayPal user claims that the company refuses to acknowledge the fact that a problem still persists on its servers.

The outage had a huge, negative impact on people whose business model runs on PayPal's online payment services. In the second quarter of 2010, PayPal processed $21 billion in payments worldwide.