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Blocking of billions worth of payments for PayPal service

2025-08-28 09:29:00, Kosova & Bota CNA

Blocking of billions worth of payments for PayPal service

After the failure of the security systems of the American payment service provider PayPal, German banks blocked payment orders worth billions.

German banks have blocked billions of euros in bank transactions due to security issues with PayPal's payment system. The Süddeutsche Zeitung newspaper reported that the problem involved direct debits, which authorize PayPal to withdraw money from customers' bank accounts after they have purchased goods online.

PayPal is by far the most important online payment service on the German market. PayPal transactions account for around 30 percent of online shopping payments.

The incident reportedly mainly affected merchants.

Fraudsters target bank customers

The German Banking Association also linked the incident to the PayPal payment system. Various incidents have occurred in recent days, including the sending of unauthorized payment orders from PayPal to various banking and credit institutions, the association said. This has had a significant impact on payment transactions throughout Europe and especially in Germany.

Criminals often target bank customers and credit card users and repeatedly try to trick banks and financial service providers like PayPal to steal money from their victims' bank accounts using fake money orders.

According to information from the Süddeutsche Zeitung, the PayPal service's security system, which is supposed to detect and filter such fraud attempts, apparently failed completely or largely over the weekend. As a result, PayPal apparently sent all unauthorized payment orders to banks without any verification./ DW





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