PayPal, the popular payment method on auction site eBay Inc., said Wednesday the technical problems that left many users unable to access their accounts or conduct business appear to over.

The eBay-owned company said technicians had made "good progress" in restoring the site to full operation.

"The PayPal site performed well during peak traffic levels (Tuesday) evening, and the overall member experience has improved significantly," the company said in a statement.

Most people using the service were able to log in to the site, access account information, use PayPal debit cards and shipping services and pay for items online with "no difficulty," the company said, adding that it was still monitoring the system closely.

The site's problems began on Friday following a software upgrade to the PayPal system. Because some people were able to access accounts, while others couldn't, the company was unable to estimate the number of affected users.

Account data and personal information were not compromised in the system failure, PayPal officials said.

The payment service's 50 million user accounts worldwide conducted in the second quarter nearly 78 million transactions worth $4.4 billion in payments. In July, eBay increased its forecast for the year, citing in part the performance of PayPal.