PayPal, Venmo Down For Users Friday Morning

PayPal and Venmo, two of the most popular online payment platforms, have reported outages on Friday morning. Both companies are owned by the same parent company, PayPal Holdings (PYPL).

PayPal’s stock tumbled as much as 2% in morning trade amid broader market weakness after the company reported its latest earnings results after the bell on Thursday. Retail sentiment on Stocktwits edged lower but remained in ‘extremely bullish’ territory. 

The outage started at around 8:45 a.m. ET, and reports on Down Detector quickly jumped to around 1,000. PayPal’s official page also reported “service disruption.” However, the company has not officially commented on the downtime.

For Venmo, data showed that 77% of users reported payment issues, followed by 17% reporting problems in transferring funds, and 6% being unable to log in. However, for PayPal, the issues seemed to be more wide-ranging. Most users reported problems with the app and payments, and the remaining 27% had login issues. 

The official website showed “service disruption” for online checkout, retail checkout, reporting, and Braintree. “We are still observing impact to Retail Checkout, Online Checkout and Braintree in our production Environment,” the website said. “Our Technical teams are actively investigating and working to mitigate the impact as quickly as possible. We will continue to provide updates as the situation progresses.”

It added that the outage affected all its regions globally. 

At noon on Friday, the company spokesman said, "PayPal and Venmo experienced a temporary interruption this morning that has since been resolved.” Down Detector also showed that outage reports had dipped considerably for PayPal and Venmo services. 

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