Shares of PayPal (PYPL) are down $1.36, or 2%, to $68.28 in afternoon trading after CFO Jamie Miller spoke earlier at the Jefferies Fintech Conference. During the event, Miller noted that the recent service disruption in Germany will impact transaction losses in Q3 and require provisioning of transaction losses. While PayPal expects higher transaction losses in Q3 and will need to provision for potential losses, it noted that this could be reversed in the future and that the impact can be absorbed within current transaction margin dollars guidance.
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