PayPal announced that it has “some significant issues” with its U.S. business, including “the lack of visibility of the US payments platform in our own markets and the limited number of international customers who use PayPal for their business”.
“PayPal is in the process of addressing some significant issues related to its US payments business and we expect to be working closely with our global operations team to address these issues as soon as possible,” the company said.
The announcement follows a string of missteps in the U.K., where it has had to scale back payments operations amid accusations of fraud.
“The US is the home of PayPal, so we’re disappointed to see this move and believe that the company needs to make a major change in how it operates in the US,” said Paul Cogley, chief executive of payment service provider Stripe.
“We’re looking forward to working with PayPal to address the issues and provide the best customer experience in the coming months.”
The company’s U.A.E. operations are also facing questions about the reliability of payments there.
“Paypal’s UK operations have experienced significant problems and there is currently no solution to address this,” Stripe said in a statement.
In a statement, the UAW said that the “current global financial situation” meant it needed to “take immediate steps to improve the company’s performance and the viability of its business”.
The US has been the most profitable of the three main global payments networks.
The U.P. has been hit by a series of problems and scandals including allegations of fraud and manipulation of the market.
In October last year, U.
Pay stopped processing payments in the United States, as it grappled with a surge in counterfeit money.
In November, PayPal was accused of manipulating its own markets, as some customers were reporting fraud from the company.