eBay’s (EBAY) payments business PayPal went down Monday for about 4.5 hours.
Uptime monitoring service Royal Pingdom estimates the outage cost PayPal’s vendors between $7 million and $32 million.
Pingdom: According to eBay (which owns PayPal), about $2,000 in payments flow through PayPal’s systems every second. This means that PayPal processes about $7.2 million in payments every hour for its users.
On its official blog PayPal has stated that the service was completely down, globally, for about one hour. So the outage cost PayPal users at least around $7 million. But PayPal also admits that it took an additional 3.5 hours after that before the service was fully restored, something we also need to take into account.
This means that the outage and following service problems cost Paypal users somewhere between $7 million and $32 million in lost payments.
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